So Very Lost...

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  • Unregistered

    So Very Lost...

    I just opened my home daycare this year and my first kid was here in septmeber. I am so lost on how to do taxes and what I can write off and about the time space thing. I think the best option (correct me if I'm wrong) would be to have them professionally done as apposed to doing them myself. I have kept my receipts for everything and am just wondering what else everyone would suggest I bring with me, and have anything filled out already, when I go to talk to a tax professional?
  • TomCopeland
    Business Author/Trainer
    • Jun 2010
    • 3062

    #2
    first year taxes

    Originally posted by Unregistered
    I just opened my home daycare this year and my first kid was here in septmeber. I am so lost on how to do taxes and what I can write off and about the time space thing. I think the best option (correct me if I'm wrong) would be to have them professionally done as apposed to doing them myself. I have kept my receipts for everything and am just wondering what else everyone would suggest I bring with me, and have anything filled out already, when I go to talk to a tax professional?
    Use a tax professional for your first year. Bring the following: all receipts associated with your home (utility bills, property tax statement, mortgage interest statement, house insurance, house repairs, purchase price of your home for depreciation); the number of meals and snacks you served the children, the number of hours you cared for children and the number of hours you did business activities when children were not present, receipts for all household expenses (light bulbs, toilet paper, cleaning supplies, laundry detergent, etc).
    http://www.tomcopelandblog.com

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