NAICS code: 624410
Childcare is one of the most underrated professions of all time. It is the most rewarding yet it is overlooked. Childcare providers never get their due credit. Furthermore, it’s not an easy task to look after toddlers. It gets exhausting day in and day out.
To add another hectic task such as tax filing means adding more than they can handle to their workload. That’s why we are here to provide you with all the tax write-offs you can prepare beforehand and use to save money on your tax returns. This will ease the burden a little and you will be able to manage your stress while lowering your tax payment.
We have put together a list of the most common write-offs for independent childcare providers that you can use to deduct your expenses.
💸Out-of-pocket expenses
Write it off using: Schedule C, Box 27a
If you have any additional expenses that you will not be reimbursed for, you can write it off.
📘Children’s books
Write it off using: Schedule C, Box 22
Every book you purchased to read to the kids is considered write-offs.
🧸Toys & stuffed animals
Write it off using: Schedule C, Box 22
If you’ve bought any toys for the children you’re caring for, you can write it off.
💬Advertising
Write it off using: Schedule C, Box 8
If you have any print and online advertising costs for your business, it’s considered write-off.
🚑First aid training
Write it off using: Schedule C, Box 27a
First aid training and certification costs can be deducted from your taxes.
🎨Arts & crafts supplies
Write it off using: Schedule C, Box 22
Craft supplies used for art activities can be written-off.