I have a children’s party business that I run from my home on a part time basis. I have reported all my income and expenses on my taxes. Can I deduct the preschool tuition as a day care expense?
Posted in Preschool Information
Posted in Preschool Information
You can receive a Dependent Care Credit for it by filing Form 2441 (Child and Dependent Care Expenses). It will reduce your tax liability in case if you owe any.
Yes
You can deduct the tuition as child care, but you will need their tax ID number….
You cannot take this on Schedule C for your business though, it is a Schedule A deduction….