So i was starting my christmas shopping this weekend and a came across a big playhouse for my daughter. My question is could i claim this as part of the daycare? The daycare kids are going to playing with it too snice it will be in the playroom?
So i was starting my christmas shopping this weekend and a came across a big playhouse for my daughter. My question is could i claim this as part of the daycare? The daycare kids are going to playing with it too snice it will be in the playroom?
Yes, I would think so.
This is one of those tricky areas of accounting - I do not have wee kids so no question any of my toys are ALL daycare use so I write off 100% ... I have attended accounting/tax seminars for our industry who say if you have wee kids at home that treating toys same as "shared use of home" using an equation of home much is home use and home much is shared with daycare ... have peers who write off 100% of big toys and so forth cause they likely would not buy stuff like that if they did not do daycare ....IMO in the absense of a clear NO rule like our home phones, family computers and so forth we can ultimatlely write off what we feel is a reasonable expense and that we can confidently argue as reasonable to our business in an audit and win ;)
Personally if it is in the daycare space and used daily by daycare I would right it off cause daycare is going to put wear and tear on it more than your kids will!!!
Dumb phone ...how much not home much :rolleyes:
Great point Reggio!Quote:
Originally Posted by Inspired by Reggio
Yes!
Toys we buy for my DD are used by daycare so = right off.
absolutely! They touch it...it`s for daycare!
I have been told things like that are considered shared and that 50-50 is reasonable considering it is available to both during the day and no one plays with it at night anyways. Also once your own child outgrows the item such as toys from a couple years ago that are now totally daycare you can also then claim the additional 50% making it belong to the daycare now instead of family.
A large item such as a playhouse - anything long term or expensive basically is supposed to be put down under capital cost allowance where you write off an amount per year. A playhouse might come under that catagory because of cost and how long it is expected to be in use.
This is the same that I was taught Playfelt ... actually went to one course where the person was say that this time of year if OTHERS are buying larger toys / equipment for your children that will be used in the daycare as well to see if they will 'gift the receipt' for it too since the daycare will be using it ... so grandparents or whatnot.
Also that anything you claim as an expenses 'now' if you sell it later when you close daycare or if the daycare just outgrows and you upgrade whatever you sell it for it must be than claimed as 'income' for the business ... I had to do this with my Lil Hauler wagon cause I bought it and than decided that it was not meeting my needs and taking up too much space as well as some other Lil Tykes outdoor stuff.
I'm with Regio and the other ladies - if it's not being used exclusively by your daughter (my kids keep their own toys in their bedrooms, not the PlayRoom) then it is a daycare expense.