closed 2/29/08 - grey enough?
lol on the leap year. nice, does that mean you can only tell people how long you've owned your house every four years?
I signed my life away for my house on 2/28/07.
We may earn a small commission from affiliate links and paid advertisements. Terms
closed 2/29/08 - grey enough?
guess it would depend on how you have the business set up.My wife started to babysit last year out of our home, Anyone have any guides as to what she can write off?
Daycare Facilities
If you use space in your home on a regular basis in the trade or business of providing daycare, you may be able to deduct the business expenses even though you use the same space for nonbusiness purposes. To qualify for this exception, you must have applied for (and not have been rejected), been granted (and still have in effect), or be exempt from having a license, certification, registration, or approval as a daycare center or as a family or group daycare home under state law.
I entered in my info to a few different sites, and each one came back with a different number. I went with the one that gave me the most. $1885 from the feds, but I owe $160 to the state.
schedule C's can(should) have losses for the first 2 years in operationYes but it wasn't that much. I think my total earnings was like 2500.00 for the year. So the expenses weren't that great.
uhm...
what was causing the differences?
thats kinda like playing russian roulette, lol
i probably would have looked into that a little more if i were you