I think it's a travesty as well as a remnant of patriarchy that you can deduct a steakhouse lunch as the "cost of doing business" but not deduct daycare as a cost of being able to work.
You can't deduct the full amount of a steakhouse lunch as a "cost of doing business." You can deduct 50% of the amount. And if you have a significant number of these deductions, don't be surprised when they are challenged.
As for the suggestion that daycare be a deductible expense "as a cost of being able to work", I think you'd have more success arguing for structural tax reform than new deductions targeted to a specific group of people. After all, there are a whole host of other items that aren't currently deductible, such as regular commute expenses, that one might argue are "a cost of being able to work."
Comments
You can't deduct the full amount of a steakhouse lunch as a "cost of doing business." You can deduct 50% of the amount. And if you have a significant number of these deductions, don't be surprised when they are challenged.
As for the suggestion that daycare be a deductible expense "as a cost of being able to work", I think you'd have more success arguing for structural tax reform than new deductions targeted to a specific group of people. After all, there are a whole host of other items that aren't currently deductible, such as regular commute expenses, that one might argue are "a cost of being able to work."