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800-876-1892 or 402-551-2379
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Learn more about Midwest Child Care Associations
Tax Quiz for 2010
Here's a few quiz questions to test your knowledge about family child care taxes. Click on the links to learn the answers.
1) The standard mileage rate for 2010 is higher or lower than the rate for 2009. True or False?
2.) If a provider uses the standard mileage rate for 2010 can she also deduct the business portion of her car insurance? Yes or No?
3) A provider adds on a deck to the back of her house in April 2010. Can she use the additional 50% depreciation rule for her 2010 taxes? Yes or No?
4) If you bought a used sofa in 2010 that you used for your business and your family, and your Time-Space Percentage is 40% which of the following statements is correct?
a) You can use the Section 179 rule
b) You can depreciate it over 7 years
c) You can use the additional 50% depreciation rule
d) You can depreciate it over 5 years
5) A provider decides to go out of business at the end of 2010. She used the Section 179 rules when she bought the furniture and appliances in 2008? Which statement below is false?
a) She must report as income some of the deduction she previously claimed on these items
b) She does not have to report as income some of the deductions she previously claimed on these items
c) She will lose the ability to claim any depreciation deduction on the items after 2010 because she went out of business before the end of the normal depreciation period
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Midwest Child Care Association .
7701 Pacific Street . Omaha, NE 68114
(402) 551-2379 . (800) 876-1892
In accordance with Federal law and U.S. Department of Agriculture policy, this institution is prohibited from discriminating on the basis of race, color, nation origin, sex, age or disability. To file a complaint of discrimination, write USDA, Director, Office of Civil Rights, 1400 Independence Avenue, S.W., Washington, D.C. 20250-9410 or call toll free (866) 632-9992 (Voice). Individuals who are hearing impaired or have speech disabilities may contact USDA through the Federal Relay Service at (800) 877-8339; or (800) 845-6136 (Spanish). USDA is an equal opportunity provider and employer.