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Quick Start For Your Small Business Taxes.Your time spent learning about small business taxes and deductions for your Child Care Business could save you a lot of money. I have created a great list to try and help you be prepared for taking advantage of saving some small business tax tips.
Our main page on Tax Deductions has one of the best tax tips we ever used in our business. Be sure to check this out...is saved us thousands of dollars over the years. ![]() Deductions you may be able to use in small business taxes!Let's go over deductions you may be able to use in child care tax deduction - I separate mine into 2 categories- "Business Deduction" or "Both" (Shared business and personal deductions - like mortgage and utilities) Here are likely deductions- the items with an * are BUSINESS Tax Deductions only:
These are just a few to start you on your way. Remember...these are possible deductions. ![]() You remember our friend Shirley R Wrong? She does not document any of her deductions. She spends thousands every year on supplies and toys and doesn't write any of it down!!!! Last year she made $143,000 (she watches 32 kids) and paid $142,992 in taxes!
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