Closed Daycare-Question for Tom

[AnythingsPossible]

I closed my daycare at the end of 2019. I have always used TurboTax to do my taxes and am curious if it will walk through the process of recapturing depreciation...

I've read through a few of the kitchen remodel threads but couldn't find an answer to my question. We completed a kitchen remodel that was well over $2500...

I started depreciating my home in my first year of daycare in 2017. I’m still doing home daycare, but I’m considering closing within the next couple...

[Daycarefamily]

I've never bothered capturing depreciation using form 3115 due to the fact that I never owe enough taxes to make it worth it. In an audit, can a taxpayer...

[SherriW]

Just opened my daycare in August 2017. First time for taxes and I'm doing my own with the help of Toms Book.

I read an article of Tom's...

[tenderhearts]

I am really considering doing my own taxes this year. I know all the things I can deduct but my concern is forwarding all the depreciation stuff and doing...

[midaycare]

Do I have to depreciate expensive toys? I bought a few expensive things with grant money this year. $2000, $500, $1500, etc. Do I need to list these as...

[Grape Ape Mom]

My house was in the path of a tornado in December 2015, and had some damage. Insurance paid for almost everything that was repaired, so I didn't plan...

[tenderhearts]

I bought a tablet that I use for both daycare and personal use for $119. Does this go under ts% supplies??

[Abigail]

1. We had a pest control service come out to take care of the lawn so the kids could play without the inconvenience of weeds. It was $228 for the season...

I opened my licensed daycare in 2013 and was only in operation for 4 months. I did my own taxes and reported my income however, I didn't worry about...

[Lyss]

I ended up buying a new camera last year and I want to make sure I'm doing it right. I use the camera for personal but a lot of daycare: I have a blog...

[Abigail]

Is my baby Swing
Smart TV
Crib
Upright Freezer
Beluga Rocker/Recliner
Master Bedroom Set and
Carpet..............all...

[CraftyMom]

This is my first year filing taxes for daycare. Do I understand this right: I can depreciate household items used for daycare even if I bought them before...

[zorrambo]

As far as I can tell from the IRS website there is only one way to depreciate furniture purchased in 2013: the 7 year straight line. It appears there...