Wite Offs

[mickyc]

yes get a good accountant!! This is one thing I stress!

There is a formula like wonderwiper said for capital costs. You get to claim so much per year for a few years (not 100% sure because that is what my accountant is for lol).

Yes pizza day is 100% deductible.

As for groceries I would just keep all receipts throughout the year and then claim a percentage. For myself my daycare is 50% of my home so I claim 50% of expenses. That includes hydro, water, internet, cable. We can claim interest you pay on your mortgage, property taxes, house insurance, house repairs, vehicle insurance, mileage on vehicle, repairs to vehicle. I give my accountant all my totals and he does his magic. Make sure and claim 100% for craft supplies, office supplies, toys and any other supplies used specifically for daycare.

I am sure I am missing something as well but that is a good start. Get a good accountant is my best advice.