Need Help with some silly tax questions

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  • daycare
    Advanced Daycare.com *********
    • Feb 2011
    • 16259

    Need Help with some silly tax questions

    So a friend of mine who teaches a high school math class has asked me to help talk about my home preschool business in her class tomorrow.

    they are learning about a time when being charged interest is a good thing. Like buying a house or school loans.

    One of the kids asked how does it work if your self employed at your home and so my friend thought of me and asked me to come in and talk about time space percentage and what not.

    The kids were asked to come up with some questions and I just got the email. I had to laugh at a few of them, which of course are a little silly.

    #1 if you have a home childcare business and you want to buy a ferrari could you write any portion of it off if you placed you used it to advertise your business?

    #2 Can you write off gas, milage, payments and interest of a vehicle?

    #3. can you buy toys for your own kids but use them in the daycare and still write them off?

    #4 Can you write off massage therapy or mental wellness services?

    Omg these kids are funny. I laughed so hard on the Ferrai one. If you have a home daycare and want that kind of car, you better have a very wealthy partner.

    thanks for your help. I hope things go well tomorrow. I am super nervous.
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