Comments for IRS Tax Relief

Comment on Can I Claim Salary Conversion As A Tax Deduction On My Income Taxes? by CARL

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Comment on Can I Claim Salary Conversion As A Tax Deduction On My Income Taxes? by ALAN

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Comment on Unlicensed Day Care, Is It A Tax Write Off? – Denver, Co? by Bree

Bree — Tue, 13 Jul 2010 02:34:43 +0000

No, not a write off.
Try getting your license to be a babysitter and you can have it filed on your taxes.

Comment on Unlicensed Day Care, Is It A Tax Write Off? – Denver, Co? by archer girl

archer girl — Tue, 13 Jul 2010 02:34:43 +0000

No – you should find a licensed daycare and compare the cost increase to the tax benefits. Many people choose a private daycare provider because they tend to be less expensive. However, keep in mind that you have recourse with a licensed daycare if you have issues with inadequate care for you child.

Comment on Unlicensed Day Care, Is It A Tax Write Off? – Denver, Co? by travelgu

travelgu — Tue, 13 Jul 2010 02:34:43 +0000

You can use it as a deduction not a write off. No tax law says it has to be licensed. You are supposed to get their social security number. You can still deduct it without their ss number. You would put they decline to give it to you. If the sitter did not claim it as income the IRS will go after them. If it just they do not want to give out their ss# they can apply for a tax ID number

Comment on Unlicensed Day Care, Is It A Tax Write Off? – Denver, Co? by T Taylor

T Taylor — Tue, 13 Jul 2010 02:34:43 +0000

In order to receive the child care credit, the child care provider has to give you their name, address and tax id number to put on your tax return. Since they are unlicensed, it is highly unlikely she will be willing to do that. If she does, she would have to report that income on her taxes, which I doubt she will.
If you want that deduction, you are going to have to change to a licensed daycare provider.

Comment on Unlicensed Day Care, Is It A Tax Write Off? – Denver, Co? by Micki

Micki — Tue, 13 Jul 2010 02:34:43 +0000

T Taylor’s response is exactly right. Day care expense is a deduction not a write-off, first of all. Secondly, on the day care tax form, the tax id of the day care provider is required in order for you to claim this deduction. If you claim this expense and use the individual’s tax id (i.e. their ssn), then they would have to claim it as income. Most people don’t want to do that – they like receiving income ‘under the table’. You may be out of luck this year. Going forward, you should remove your child from that business and put them in a legitimate day care business. If you are using this non-licensed person, how do you know that their food standards, or building standards, or safety standards are meeting inspection standards and are up to date. Your child deserves to be in a clean, safe place

Comment on Unlicensed Day Care, Is It A Tax Write Off? – Denver, Co? by amym1031

amym1031 — Tue, 13 Jul 2010 02:34:43 +0000

Nope. and it isnt a write off (deduction), but a tax credit, big difference.

Comment on Can I Claim Salary Conversion As A Tax Deduction On My Income Taxes? by extra_37

extra_37 — Tue, 13 Jul 2010 02:34:40 +0000

This is a new term for me. You should really find out EXACTLY what “Salary Conversion” is. Are you an independent contractor ro an employee? An employee has withholdings of soc. sec. taxes, federal, state and local taxes as well as before tax deductions for pension and insurance. If the conversion is for pension or health insurance, it is not deductible.

Comment on Can I Claim Salary Conversion As A Tax Deduction On My Income Taxes? by Jessica M

Jessica M — Tue, 13 Jul 2010 02:34:40 +0000

You don’t say what the money was converted to? If it was set aside in a 401(k) plan your taxable wages on your W2 will be less than your wages subject to SS. So you won’t pay tax on it because it was deferred. It is not a deduction.