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by GuestI I'm buying the house that I've been doing daycare in for 17 years. I got a loan through a bank and and paying on it monthly as well as all of the insurance...
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Channel: Daycare and Taxes
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by bzzzybeeMy daycare was open from January through mid march last year, I never reopened the entire year and I do not intend to reopen again. So I am figuring my...
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by Reimel61Need some help on Time/Space. I've been closed 73 days due to Covid or Covid related fears at first this past year. This rounds out to 10 week and 3...
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Channel: Daycare and Taxes
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by tenderheartsI was wondering if there is an inexpensive app that parents can answer all the daily health check questions before coming to care?
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Channel: Daycare Center and Family Home Forum
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by Core12Hi friends! I always like to get advice here because it’s the best!!!
My mom and I have an in home daycare. She does all of the tax/paperwork...-
Channel: Daycare Center and Family Home Forum
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by XJ035We have been shut down since the mid-March shelter in place orders. We are now permitted to be open, but have remained closed. We intend to reopen, but...
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by Baby BelugaDoes the delivery fee for groceries, that both your own family and DCK's eat, qualify as a write off? 100% or T/S?
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by bartelbyHello all. New to the forum happy to have found you all!
My wife and I recently started a preschool program out of our house. Our theme...-
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by Baby BelugaOne more question, Tom
My husband has a subscription to Photoshop. He pays for it out of an account that I am not on. I use Photoshop...-
Channel: Daycare and Taxes
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by Baby BelugaIn 2019 I purchased 2 security cameras - one is installed in the classroom and the second one is installed on the front porch.
Both were 100%...-
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Hi Tom, I am trying to figure my t/s ratio for my taxes. I followed the formula in your book that I bought, but I want to be sure I did it right. Can...
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How to I track to use actual use on a new dishwasher? One load per weekday is always daycare.
I also cook at night and feed daycare the...-
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by Julia2Hi I have a question, how I deduct the used of my home for using part of it for my home daycare business?, my plan was rent myself my first full floor...
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by SnowmomWe recently had hail damage and replaced the roof and gutters.
Insurance covered everything except obviously the $2000 insurance deductible. ...-
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by Cat HerderQ: In your Time/Space Calculations do you calculate based on *Attendance Records* hours or *Hours of Operation* hours?
I have always believed...-
Channel: Daycare and Taxes
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by Jo123ABCMy tax guy doesn't use t/s% and it's driving me crazy because I don't know whether to calculate it myself or leave the numbers whole and let him do his...
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by SunchimesI feel sure that I know the answer to this, but before I write off all of the hours, I wanted to double check.
My husband was in the hospital...-
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by GuestI've read through a few of the kitchen remodel threads but couldn't find an answer to my question. We completed a kitchen remodel that was well over $2500...
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by LovisaHello, we are having to get quite a bit of plumbing work done on our home. It'll be upwards of around $14,000. How do I claim this? I'm assuming d...
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by Natnat88So after filing my 2018 taxes I actually faired well. The CPA informed me that I could no longer claim the T/S or any home utilities unless it was directly...
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My own kids are 8 & 10 and we have no personal need for a fence. We are considering one for the purpose of the little daycare kids, mostly toddlers....
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by VankaHi everyone,
I am having a bit hard time understanding what taxes in home daycare providers pay.
I have searched the internet without luck,...-
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by Miss BinneyHey everyone!
I have worked in early childhood for over 20 years. I have done a little bit of everything - trainer, teacher, administrators,...-
Channel: Daycare and Taxes
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by vlouie574First off, Tom's website http://tomcopelandblog.com has a plethora of information. I will be signing up for kidkare.com
and will gladly sign up...-
Channel: Daycare and Taxes
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If I install a home backup generator that costs more than $2500, can this be depreciated in one year or is it considered a home improvement?
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by SherriWWhere do i deduct zoo membership and childrens museum membership on taxes? (100%)
Also, where do i deduct Netflix, Spotify, and Amazon...-
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by SherriWThis is my 2nd year of daycare business. I have always efiled my taxes using the "Free File Fillable Forms" from IRS.gov. It basically is...
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by PapingoWhat is the tax treatment for this. It includes new fencing, patio, landscaping, garden boxes, seating etc. I appreciate any ideas or help.
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by ccdaycareHello, we operate a home daycare in a state that allows a home investment tax credit for home daycare providers for purchases of qualified personal property...
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by XJ035We had to replace 80 ft of fencing on the side of our property. 50 ft of the fence is in the yard were the kids play. Is this part of the entire home...
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I bought a cabinet for daycare items. Very rarely my kids will take out the craft items, approximately 1 time every 4 months. They have most of their...
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by tn0087Hey Tom (or anyone else who attended),
In the webinar for the 2018 tax changes (thanks again for doing that) I believe you mentioned that even...-
Channel: Daycare and Taxes
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Hi. Our existing driveway is too beat up to repair so we are planning to replace it this summer. Will this be considered a home improvement or maintenance?...
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by bzzzybeeIn April of 2018 we had to replace our A/C unit which cost over $8,000. How do I write this off as a deduction for my expenses? I know I can’t take...
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by tenderheartsWe had the exterior of our house painted in 2018, where and how do I put this in my taxes? Under home improvement? Depreciate?
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I must be missing some weekly cleaning or bookkeeping recordings because my t/s ratio is low. Did everyone get theirs done or calculated? Can I ask...
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by Core12Just wanted to see the average number of hours you guys spend working outside of your daycare hours.
With CE classes, grocery shopping, client...-
Channel: Daycare Center and Family Home Forum
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Tom, I do have your book but am still somewhat confused. What I need is to figure out what categories in my Forms, Facts and Figures to use. This is...
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Can time spent on daycare forums or Facebook pages after kids are gone be counted in time and space? I did not track last year but it adds up.
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by tenderheartsTom, I was wondering if a home security system is something I can write off on taxes or at least a portion of it?
this is an outdoor security system....-
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I had to have a really big area of sewer line dug up and replaced which included a large chunk of my yard, driveway, and sidewalk. When all was said and...
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by Baby BelugaMy dining room table has taken a beating!
If I purchase a new on before 2018 is over - I am able to still deduct a portion of it via time/space...-
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I am closed June 2nd to Aug 20 (teacher's kids.) How do you figure time and space? If you don't count those days, how does that effect depreciation? My...
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Over the years, my vertical blinds have been damaged by the childcare kids. Right now, there are 8 pieces broken, and I have been using a piece of fabric...
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by tenderheartsI was wondering what happens on taxes when you own your home and have been doing daycare and decide to close!
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I am using the KidKare software for expenses. I just looked up my time/space ratio and it was at 36.88%. Does that seem high? I use 30 minutes in the...
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Hey everyone what is your average T/S % each year for taxes? TIA
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Channel: Daycare Center and Family Home Forum
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I need serious help with my t/s%. I have all the measurements, but I just don't know how to do it right. I just bought Tom's book, so once i get it,...
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First of all I can't thank you enough for taking the time to answer so many questions. I have been working all day to get things ready to go back to...
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by Miss AWe are in the beginning process of taking one large bedroom of our 5 bedroom home and making it into 2 seperate rooms, 1 side will still be a bedroom...
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by StarMama01This might be a question for Tom: if you have an open concept home design, can you claim portions of a room as exclusive use?
My kitchen...-
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by MyAngelsWe bought a storage shed last year that cost about $2400, which included laying a rock base for it. It's not attached to the land. Can the TS% be deducted...
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by Baby BelugaWhen measuring the square foot for time/space percentage, do you include counters? For example, in the kitchen, do you measure just floor space or do...
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by Quiet TimeInteresting year of daycare. I had a DCK drop my computer off the kitchen table and managed to crack a tile (right in the middle). About a month later,...
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Tom,
I only provide care during the school year. I know I count days here and there that I am off in total hours. Do I count hours for June to...-
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I am sitting here with my copy of the 2017 Tax Workbook and Organizer, and I think I have most everything under control. However, I have a utilities...
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by Trazzie1This is my first year in business and I opened my doors on July 31st. My question is, when figuring out time % do I still use the full years 8760 hours...
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by LovisaI've read through many of Tom's articles and can't make heads or tails of how I go about depreciating the new HVAC I am having put on my house next week....
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by KaylalaI have 2 questions.
1. When I claim my mortgage can I only claim how much I a supposed to pay or can I claim how much I actually pay....-
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by LeighI have kids that I care for M-F, 7:30-5:30. I am considering providing respite care for the children on weekends (not every weekend, but probably 2-4...
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Hi all! I have been an elementary school teacher and principal for the last 16 years. Before that I was a nanny, day care teacher, and babysitter since...
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Channel: Daycare Center and Family Home Forum
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by sbengtsonHi all! I am in the beginning process of starting In home group care with two of my friends. We are trying to figure out income. How do you pay your assistants?...
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by midaycareWe have 7 acres and our outdoor area for the kids takes quite a bit of upkeep since it is so wooded (constant raking and tree trimming).
...-
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by badger411I have a simple question this tax season: Why can't any company come up with a program that understands how to calculate business use of your home with...
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by GuestWhat is a "common" time space percentage? Our new tax preparer said that our 81% is too high. Last year it was 73%. We use 100% of our home...
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by GuestHey there! I'm a registered user but cant remember my log in info....
I have always done registered family daycare so I know how to do...-
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by LyssI have two businesses, home daycare (my main income) and an online business, can I spilt an expense between the two? Specifically internet services....
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by kendallinaTwo quick questions:
I did not work this past summer. I realize that means that my Time Space % will be much lower than normal. Does...-
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by JosiegirlI hope you can help me, I have just a few questions I need to clarify the answers to.
1) Phone-I know you can claim the first phone but what exactly...-
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by Cat HerderDoing your daycare software research? What's new? Who's dependable? Who has the best features? Costs?
Please post your reviews, information...-
Channel: Daycare Center and Family Home Forum
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by tenderheartsI bought a tablet that I use for both daycare and personal use for $119. Does this go under ts% supplies??
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by MaxWhen you calculate your time % for the year, do you subtract the hours in which you're closed? Vacation, holidays, sick, etc. ?
Does paid/unpaid...-
Channel: Daycare and Taxes
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by Reimel61Does anyone have any suggestions??
How did you do this??
Tax implications??
Thanks-
Channel: Daycare Center and Family Home Forum
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by jenbooMy husband is thinking of joining me at our home daycare. I'm trying to estimate our potential income to see if it will be worth it.
I'm trying...-
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by Blackcat31
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by ThriftyladyOkay so I am not sure how to do my bookkeeping on my garden. I spent $80 today on manure, peat moss, etc. And I am paying a guy $45 Saturday to come...
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by SnowmomI paid to get my taxes done this year and my accountant depreciated:
1. Windows we replaced: 39 years.
2. Water Heater we replaced: 7 years....-
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by jenbooHi!
I can't remember what areas of the house we can count in our time/space %. Do halways count? Garages?
My computer desk is in my bedroom,...-
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by Miss ASo I have been working on keeping better records for my tax preparer for the 2016 tax season, and I am wondering on how everyone does their receipts?...
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I plan to start using my tablet to input info into minute menu daily, it's easier for sign in/out and meals. How would I deduct this? Would I claim my...
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by knoxmomof2Hi
Does anyone -who doesn't have a napper in there- claim their own bedroom for regular use? If so, what are the circumstances? I'm trying to see if...
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by BoymomI am confused about depreciation. Do I need to depreciate anything if I am just renting? Would I still need to depreciate couches, etc if they are more...
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by GuestTom,
I purchased a new iphone in 2015. I do not use a landline and I use this phone for personal and business. I know I can deduct the cost of...-
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For my T/S%.....
Do I have to use the hours that kids were present, or can I use the actual hours I was open? I'm asking this because some mornings,...-
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by snbauserThis would be for next years taxes....
My last day with kids will be June 10th. But there will be at least a 2 week period after that where I...-
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by TSDaycareHow do I deduct loan interest on a loan that was taken out to pay taxes due? I've had it for 3 years already, but it just occurred to me I may be able...
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by Crazy8We signed contract to demo and refinish our basement back in November 2015, deposits were paid and work started. Payments were due with each phase of...
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by MelissalynHello!
I am a Child Development Home Provider through the Navy. I accepted my first child on October 19th, 2015, but was working to open...-
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by XJ035In the past I’ve calculated our daycare T/S based on total square feet in the house vs the daycare space. The number I’ve use for the total sq ft...
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by Crazy8Wondering if others could list the categories they break their expenses down into. I am finding that now that my own kids are older and out of the daycare...
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by daycareI have to replace my entire engine in my car and the cost will be about $5700.
I use my vehicle to transport one child to and from school,...-
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by M&MgalI use Minute Menu and just got Tom Copeland's Tax Workbook & Organizer. In the business expenses section, you are supposed to enter how much you spent...
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I am systematically going through Tom's book and filling out the forms by hand before using Turbo Tax to complete my tax return. I am a bit confused on...
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by BrooklynMHello-I tried to search for this, but couldn't find it. I also have Tom's workbook I am going through but I'm not seeing anything in regards to an Entryway...
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Had my taxes done over the weekend, but looking back, what she entered for my t/s is different than what I gave her on the worksheet from MMkids. She...
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by WImomFor most of 2014 I had a large section of my 1st floor as 100% daycare and then my basement was all T/S because it was used for storage of toys and materials....
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by tenderheartsWhen I'm calculating the time space percentage of supplies I've bought, do I add the hours per month and do this each month or wait until the end of year...
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We purchased a house in April how do I spilt the time-space percentage for 2 separate houses during the year?
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by midaycareFor those of you who use an accountant, how do you categorize your receipts for them?
Do you have them divided into expense type? Do you...-
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by ihopI used MMK for my ts% and it tells me its 46%. I only had children in care 9/9-12/31 last year so this seems very wrong to me. I have children in care...
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by CrackerJacksOKay, so I'm trying MMK to see how I like it. But I have 2 questions.
1. Is there a way to enter my additional hours worked on a continuous...-
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by ihopMy dbf and I live together(his house). If for the 6 months that I have had the daycare here, I have contributed, in cash, half of the utilities and mortgage....
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by Punkin.ButtsI will start by saying I just bought a used edition of Tom copelands family child care record keeping that has the 1000+ tax deductions.. literally 5...
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by AbigailI'm getting confused! 2012 was my first year of business and I have to finish my tax things in the next few days for my tax lady. Is it easier to just...
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by AbigailThese are the items listed under my personal property:
Washer/Dryer
Snowblower
Lawnmower
Dishwasher
Carpet...-
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by voymomHello everyone! I am new to all of this child care stuff so I need LOTS of help, especially when it comes to taxes, since numbers are not my strong point...
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by MargareteI'm sure these are answered somewhere else, but I'm having a hard time finding it.
I have 1 daughter, and several DCKs. So all toys get...-
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by GuestHello,
Had to get a new roof.
I know it is a home improvement. Is it 39 years???
Also, when they took off...-
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by WImomNeed some help… We remodeled our daycare space. It is part of our house but is a dedicated space just for daycare (was formally our living room/dining...
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by MissAnnWhen deducting a cell phone as a second line, do I use t/s on the entire bill if I have 2 phones and one is for my son.....or take out the charges for...
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by EAPJust making sure Taxact (switched and like much better than TT) isn't going to re-apply my T/S % to the totals I have already entered on the schedule...
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by TheGoodLifeQuestion for Tom: Do I need to measure out the closets in my house? I've done all the rooms, hallways, ect- right now I've left out the closets but I...
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by EAPIf my master bedroom is used to keep my dogs separate from the children (a licensing requirement) can I include the square footage in my time/space percentage?...
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by LyssI know the IRS generally rounds all numbers to the nearest whole number. Is this the case for the T/S%?
Mine comes out to .3175, so should...-
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by suehelenWe built new decks, front and back this fall. I need to depreciate these 39 years, right? The same thing for our new furnace.
However,...-
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by LyssI started caring for children in May so for my T/S% I calculated hours in the year from May through December and read that because of this I can not deduct...
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When figuring out my time space % do I use the full years hours of 8784 or do I calculate it using the hours up to my final day of business?
...-
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by TomCopelandFamily child care providers will be able to claim up to $1,500 in house expenses on their 2013 tax return, without receipts, according to a new IRS Rule...
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by JustMeI live in a smallish house, it is considered 952 sq ft according to city records. That amount includes the main level of my home only. Of that space,...
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My husband and I just got married last year and he already owned this home before he and I even started dating. I'm all new to claiming bills, mortgage...
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by daycareIts that wonderful time of the year.............LOL NOT.............Christmas just passed and now it's tax time......The time I want to pull my hair out....
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Channel: Daycare Center and Family Home Forum
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Browsing around the forum I'm seeing this is a high ratio. I'm not sure what I could be doing wrong, if anything. I've only been open since November first...
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by daycareMy CPA called to tell me that my TSP is too high. Last year it was at 46%.
would you consider that too high and if so what is the average...-
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by daycareso I know over time we all made a list of things that we can write off on our taxes along with a nice list of time space % list of activities and etc....
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by frugalmama4Good Morning Tom,
I have a question regrading MMK and T/S. So I know we can enter the hours worked on daycare related things outside of...-
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When you go into the Time/Space Percentage area you can choose to "Calculate Selected Month's Hours from Attendance Records" or "Calculate...
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by MyAngelsI just got a notice that our state is now requiring radon testing every three years. How is this deducted? The full amount, T/S%?
If...-
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by GuestJust curious if I am in line with others on my deductions.
Curious how much you deduct? Mine figures to about 1/2.
$57,000 came down to...-
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by GuestWhat is I got a new laptop onl for DC use, paperwork, kids projects, etc....
How do I deduct that and how do I prove it is truly 100% day...-
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by jokalimaI have a designated DC room, but use my kitchen mostly for DC things than for home things, use my hallways bathroom for DC during the day, one of the...
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by EchoMomCan I write off all or any portion of out of pocket chiropractic care (considering I lift infants and toddlers as part of my job)?
And...-
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by HappyPennieI have a question about T/S percentage. My T/S% for 2011 was 42.74% according to MMK (I opened my daycare in October of 2011 so it was only a partial...
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by LyssI'm currently measuring out the areas used in my home for my time/space % but I'm wondering about a few things.
1) For areas like the...-
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by JenniferdawnWe bought a new van in 2011 and are planning on using the actual vehicle expense method for taxes and to take advantage of the 100% bonus depreciation...
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by GuestI can't seem to figure out Time and space!
100% Business = 421 sq ft
1701 regularly for business = 1701
Total of sq. ft....-
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by tammyInstead of making a whole bunch of posts, I thought I would make just one.
1) I just started a pest control service. This is something...-
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by VTMomHey!
I hope someone has an answer! Do I need to calculate my business expenses using the T/S % before I enter them into turbotax or does that calculate...-
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by magsgmaI have sent this in an email to Tom Copeland but knowing this is a busy time for him I am not expecting him to answer soon enough. I need to call some...
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by kentsterJust a quick question. Considering the business use of our pool for depreciation I am using the months June - Sept. If I assume "available"...
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I have a few questions!
This year I bought a camera that I use for both business & personal use. When I put it in Turbo Tax as an asset,...-
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by WImomWe put in a 4ft cheap fence in 2010 and used it until spring of 2011. We had to move my outdoor fenced space due to flooding issues and when moving the...
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by WImomJUst wanted to check. We put in a new fence this year. From what I read below we can deduct the cost all this year correct or not because the fence is...
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by GuestWhat is the rule about things bought for my own children, but that daycare kids use too. This includes birthday/Christmas gifts to toys bought at the...
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Channel: Daycare and Taxes
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by frugalmama4Good Morning Tom,
Thanks again for answering my questions yesterday!
So as am cleaning this morning I realize "I'm using...-
Channel: Daycare and Taxes
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by care-careI dont hire a person to come into my house to clean my carpets. I own a machine and do it myself.. After a baby with major reflux I spend alot of time...
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by care-careI am entering my new fridge into mmk and i was wondering what i should do for method and convention.. I got it in july of 2011 is that matters.. than...
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by GuestI need help on what to report as other income for the trade in of a business vehicle in 2011.
So I purchased the vehicle for 27000 in 2007...-
Channel: Daycare and Taxes
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by SunchimesFirst, when you are logging your arrival and departure times, do you round it up or down to the nearest 15 minutes( if they arrived at 6:35 your write...
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by WImomIf I don't transport but use my vehicle for daycare groceries, supplies, bank trips, etc. what can I claim? Gas, insurance, payment interest? Any or all...
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by Mrs. CCthreads which discuss how to get a weekly rate and what the equation is.
Anyone have a process for how they did it?
Do you...-
Channel: Daycare Center and Family Home Forum
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by GuestI understand how to figure my time/space percentages. My confusion comes in this year with some of my areas downstairs being used only for my daycare....
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Channel: Daycare and Taxes
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by GuestHi,
I opened my daycare with my first kid on 04/04/2011 and I have a question about my Space % in Minute Menu Kids. Should I check the...-
Channel: Daycare and Taxes
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by WImomI'm getting new tires for my van this weekend. Can I deduct any of that? I don't transport but I do use my vehicle for shopping and bank trips for the...
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by littlemommyThe space I'm having cleaned is my living room and the attached toy room. These are my two main daycare rooms, along with the kitchen which does not need...
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Channel: Daycare Center and Family Home Forum
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by DardyMy tax pro deals with a lot of daycares. Replace the couch, curtains, bedding, paint the walls (again), appliances, a new lawnmower, light bulbs etc....
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Channel: Daycare and Taxes
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by JenniferdawnWe are buying a new car with more seating capacity specifically for my daycare, but I will still be using it as a family vehicle as well. Since we are...
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I am starting a new daycare opening in 2 weeks. I don't know when I can start claiming my time/space percentage on my utilities, rent, etc.
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by blessed momCan I also write off our internet service since I use it for curriculum and TV (since we only have Netflix) which I use for the kids as well.
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by blessed momSo I was thinking I will be able to deduct the time/space percentage of my mortgage but when I was looking through Tom's calendar it asks for the mortgage...
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by kitkatIf I have a tree cut down and buy new landscape rock, how do I deduct that? Thanks!
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by afmamaReally don't know where to begin in keeping track of things for taxes....is there a good previous post or article about the basics? I've had my license...
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by tn0087We were informed that the playset in our backyard would need to be mulched before the daycare children could play in the backyard as part of NY state's...
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Channel: Daycare and Taxes
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by magsgmaThis is too late for this year, but I want to be prepared for next year.
Is a detatched garage to be counted in the T/S % ?
We have a 2...-
Channel: Daycare and Taxes
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by daycareOk, so i am one of the laggers waiting to do taxes as always.
I wanted to know what others averaged on a monthly basis for their time-space...-
Channel: Daycare Center and Family Home Forum
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by RachieTI have not started my day care yet but in preparation for opening on May 1st we are fencing our yard and buying a mini van. Can these be written off if...
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we had 3 tree's cut down and removed it costs us a lil over 2400
this made more parking space for parents.
can i write off 100%??-
Channel: Daycare and Taxes
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by legomom922Heres an interesting question:
For DC you can write off business use of bandages, you can also write off bandages as a medical deduction...-
Channel: Daycare and Taxes
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by legomom922I put outdoor carpet on my front deck so no one would slip when its wet, and a big outdoor carpet by the stairs to the enterance of the deck. Would this...
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by legomom922I recieved a JC Penny gift card from my Mom for $50. I bought a new Butcher Block Knife Set with it. So can I still take the t/s deduction for this item?...
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I bought the curriculum (Funshine Buttercups) because of daycare, would NEVER have tried it if not for daycare, but because my own DD is in the daycare...
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by legomom922When i am depreciating items in MMK, when I enter an item I want to take the 50% depreciation bonus on, do I just enter it as business use %? or is there...
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by radhasI have a question in recording space in MMK
My house whole downstairs is 1700 sq its fall under limits for children. I want to know what...-
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by ChildminderTom,
I would like to thank you for sharing all of your valuable information on the daycare business and daycare taxes. Between your books,...-
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Do I really have to enter stuff like cleaning day by day...or can I do it, like, month by month and enter the total number of hours I spent cleaning or...
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by JeepGirl6On Turbo Tax is there a deduction for a % of my house payment, I pay $771.00 a month
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by JeepGirl6I have completed my taxes on turbo tax but the only thing I did not deduct was my T&S....Anyone know where it will take me to this section? I can't...
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by radhasI have 6500 square feet total lot size home. My home is a two floor home and the living area is 3700 square feet. I plan to use entire first floor including...
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by legomom922I thought it would be helpful if we all could add something to the "worked when no kids are here" list, because we dont always think of everything...
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by TSDaycareJust curious as to what the figure is for other providers for their time/space, this is my first full year, so I'm curious to see how many others are...
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by KEG123So my upstairs is off limits, besides the bathroom. My son's room, however (that is upstairs), houses many of the toys we rotate into the daycare. So,...
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by GuestTom, I am really trying to understand what I can and can not count as my space percentage.
In the 2010 Tax Workbook & Organizer on...-
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by care-careOk i am adding info into mmk and I have some time that i spent touching up paint, putting in plug covers, installing fire extinguishers, carbon monoxide...
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by AbigailOk, I'm just making this up to see if I understand this correctly or not....this really could be a college level course to understand this,
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by GuestI am not licensed, but have an in-home daycare for 5 children I. have a business license in my city. Can I claim all the same deductions as a licensed...
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by JoJoFirst Year in business, so this is a rookie question. If I buy $2000 worth of cleaning supplies, toys, etc... do I apply the T/S % to those items? What...
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by Jennifer91I'm trying to calculate my TIME PERCENTAGE and I'm wondering what others put down. Does 465 hours when children are NOT present seem too high?
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by My DaycareI use the space under my teenage sons basement bedroom for Tornado Drills one time a month. For T/S% do I calculate the square footage of the bed on...
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Does anyone use Minute Menu and then Turbo Tax? I'm getting a different percentage when I put my info into one vs. the other...
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by lvt77I use MMK and was wondering what is the benefit of using the T/S for other activities? I know it is to enter extra hours of other acitivities, but what...
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Channel: Daycare Center and Family Home Forum
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by JewelsI was wondering last year I took two courses on the Eager to learn website, taking these for my grant training requirements, county training requirements,...
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by TSDaycareMy tax consultant told me last year that I cannot claim my entire house in my t/s or it will red flag the IRS, but I use my ENTIRE home for daycare, excluding...
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by legomom922Something doesn't seem right..With the 2 kids I had here in Dec, my t/s comes out to be 12.3% and so far now for jan with 1, its only 11.4...In dec, the...
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by lvt77Can anyone tell me what the purpose of the time-space (other activities) is?
I know that I am to record all of the hours that I spend working outside...-
Channel: Daycare Center and Family Home Forum
01-24-2011, 01:06 PM -
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by lvt77I have weekly lawn service to keep the DC play area in check.... as well as a weekly cleaning woman that comes to clean the DC room and bathroom. She...
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Channel: Daycare Center and Family Home Forum
01-24-2011, 09:51 AM -
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by ZoeWe moved from our old house in August and I'm confused as how to calculate my taxes (time space percentage etc). I was doing daycare (unlicensed) from...
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by MG&LsmomI officially started daycare as of Sept. 3rd. I had 1 steady child for all of Sept & Oct, no one for November, and another child started Dec. 15....
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I'm rearranging my home in preparation for my new baby being born at the end of May. Up until now, I've had an extra bedroom in use as 100% business use...
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by actaktmdtQuestion: 2010 was my first year in buisness. I spent around 250$ in curriculum to use throught out the year. For the most part, in my care, was 4 dc...
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by legomom922So while I was entering expenses today, I came across another question when it came to my cable bill. My internet is provided through my cable company,...
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by llove530Tom,
Do I also need to figure out my Time/Space % before entering my all utilities into Turbo Tax? I think I did it wrong last year on...-
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by llove530Doesn't Turbotax calculate your time/% for you once you enter in your deductions? Or do you have to figure that out first and then enter?
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I live in a bi-level home. The upstairs is where 3 bedrooms, 1 full bath, kitchen, living room are. I currently do daycare upstairs, with one bedroom...
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by GuestI have a few questions and would love to hear from any of you. I am normally a registered user, but thought better to post unregistered due to a possible...
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Channel: Daycare and Taxes
01-05-2011, 07:09 AM -
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by GuestI run a daycare from my mothers home. I pay half of the mortgage and all of the utilities. My mother has nothing to do with the daycare and does not claim...
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by care-careQuestion
If I am on here reading to get info and all the other stuff we get out of this thread and I have nobodys child I can count the time...-
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by TSDaycareStarted daycare August 2008-when I had my taxes done for that year, my tax preparer figured up my time/space percentage. I explained to him that I used...
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by legomom922Like if I use a room 90% for business for 4 months, but then the room becomes somehing else and then the buisness use of the room changes over to be time/space...
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by JJPlaycareOkay maybe I have lost my mind, but I am not understanding this entire time/space percentage thing and writing things off thing????? I have all of my...
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I'm sitting here entering in all my receipts into Minute Menu (that I'm severely back up on!) and wondering.....can I claim milage if it's an item that...
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by JJPlaycareWhat is the equation for finding this out?
Also I have another question, I live in a split level house and I have only been using my upstairs...-
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by ddnanny13When you figure your time space % can you count your yard as apart of it? We play out there everyday. Plus we put in a fence in the back... I know I can...
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by legomom922If our T/S% is based on time that kids are in our care, what do you do in the attendance page, when a perent picks up their kid 1 hr early? Do you adjust...
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Channel: Daycare and Taxes
09-30-2010, 07:00 PM -
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by legomom922So as I had said another post, I redorated my stepkids bedroom because they are here in there 4 nights a month, and my DCK use it a hek of alot more...so...
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Channel: Daycare and Taxes
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by legomom922Tom had said something very simple but made so much more sende and I always remember it..He said it's not "why" you bought something, that matters,...
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Channel: Daycare and Taxes
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by legomom922So Tom Copeland agreed we need to copy & keep reciepts so they dont fade etc. So I want to buy a scanner/copier to do this. My question is, if I am...
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by MsKaraOkay, so I just got minute menu and I love it. However, I'm trying to enter my expenses and I"m SOO confused. My daycare is in my basement and...
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I was reading the recent tax thread and since I'm new and this is my first business tax return...I was wondering what the normal TSP rate is...what is...
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Channel: Daycare and Taxes
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