Dayhome toy write offs

[playfelt]

Yes keep all of your receipts and anything that you bought to set up your daycare is claimable. In theory what is happening is that you bought the item personally prior to the date your daycare opens and then you are selling the item to your daycare on the day you open so now the item belongs to your daycare.

As to claiming the construction of the basement room that is not a good idea because when you come to sell the house that portion of the house will be subject to capital gains taxes. What you can claim is things that went onto it like the paint, shelving, flooring - the kind of stuff that is replaced every so often so carpet yes but studs and insulation for the walls no. If you installed new light fixtures where there were previous basement lights then those would be claimable.