Tom Copeland

The Tax Consequences of Renting

When you rent something that is used in your family child care business, you can deduct it using the rules described below: House/Apartment – Deduct the Time-Space % of your monthly rent. You won’t be able to claim any mortgage… Read More ›

Summer Deductions

Summer Deductions Don’t forget to deduct these summer expenses: Children’s toys: baseball, basketball, Frisbee, riding toys, scooters, etc. Children’s activities: admission charges for museum/zoo/recreation center/swimming pool, burn spray or lotion, picnics Children’s equipment: swing set, picnic table, playhouse, wading pool,… Read More ›