Child care facilities - Employers can claim a tax credit of up to $150,000 a year for 25% of the cost of building and operating child-care facilities for their employees.
Are you getting your full tax break?
Here’s a list of expenses that could be considered “ordinary” and “necessary” for your business:
House expenses – property tax, mortgage interest, utilities, house depreciation, house repairs, and house insurance
Furniture/appliances – washer, dryer, refrigerator, microwave, stove, dishwasher, rugs, sofa, tables, beds, chairs, TV, DVD player, lawn furniture, service contracts on furniture and appliances, etc.
Household items – light bulbs, toilet paper, cleaning supplies, paper towels, laundry detergent, doorbell, welcome mat, clocks, etc.
Home improvements/repairs – fence, patio, remodeling, new furnace, garage door opener, new floors, insulation, snow removal service, etc.
Children’s supplies/equipment – arts and crafts, toys, playground equipment, floor mats, cribs, curriculum, etc.
Other: food expenses for the children, car expenses (use the standard mileage rate ($.555 for 2012) or the actual expenses method), computers, wages to employees, advertising, etc.
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