T/S % for daycare and personal use

[sally]

My old camera junked out on me finally so i bought a new one. I take pictures of my daycare kids for holiday crafts, first day of school pictures for their parents and i also take other pictures when we do fun activities and print them off for the parents also. Of course i use it for my own personal family too but was wondering if there is a certain amount we can take off for taxes since i use it often for daycare too.

[Blackcat31]

I edited the title of your thread so it wasn't so long.

I am also moving this to the tax section so that Tom Copeland will see it and respond.

[sally]

Oh thanks. Sorry i didn't see there was a tax section before.

[TomCopeland]

camera

My old camera junked out on me finally so i bought a new one. I take pictures of my daycare kids for holiday crafts, first day of school pictures for their parents and i also take other pictures when we do fun activities and print them off for the parents also. Of course i use it for my own personal family too but was wondering if there is a certain amount we can take off for taxes since i use it often for daycare too.

You could either use your time-space % or an actual business use percent to deduct the new camera. If it cost less than $200 you can deduct the business portion in one year. If it cost more than $500, depreciate it over 7 years.

[sally]

Thank you