Income After Deductions

[MarinaVanessa]

How can you count tp and paper towels if your family uses them too? I'm new to this

You use your Time/Space %.

To get that you keep track of all of the time you have kids in your DC and all of the time that you spend doing DC stuff in your home when there's no DC kids then you divide those hours by the number of hours in the year. This gives you your time%.

Then you figure out how many sq ft in your home is regularly used for daycare business and divide that by the total number of sq ft of your home. This gives you your space %.

Then you take your time% and multiply it by your space% and this gives you your time/space%. (can you tell I have my Tom Copeland Family Child Care Record Keeping Guide out ).

Your time/space% is the percentage that you can claim from shared items in your home. So if your time/space% is 35% then you can claim 35% of your items that you purchase that you share with both family and daycare like toilet paper, napkins, paper, pots, pans, utencils, cleaning supplies, toys (if shared by your own kids and the DC kids) etc.

[Holiday Park]

Where can I get this T.C. Record keeping guide ?edited to say I just realized that's what the link above is for . I'll have to get the rbook because I dont have kindle , an i-pad or a nook :-( . I hope to get an i-pad after tax time . Maybr I can buy the one for the i-pad .... But is it readable on an i-phone ?

[TomCopeland]

Iphone

Where can I get this T.C. Record keeping guide ?edited to say I just realized that's what the link above is for . I'll have to get the rbook because I dont have kindle , an i-pad or a nook :-( . I hope to get an i-pad after tax time . Maybr I can buy the one for the i-pad .... But is it readable on an i-phone ?

I don't know if my book is readable on an Iphone.

[Unregistered]

active poster but logged out

I usually have 7-8 FT kids year round.
My gross income is usually around $50-55,000 and after deductions it's around $30,000.

I highly recommend Tom's book! It helped me find SO many more deductions and I learned to document ALL of my time spent doing daycare related activities to raise my time %!

[Malmom]

Where can I get this T.C. Record keeping guide ?edited to say I just realized that's what the link above is for . I'll have to get the rbook because I dont have kindle , an i-pad or a nook :-( . I hope to get an i-pad after tax time . Maybr I can buy the one for the i-pad .... But is it readable on an i-phone ?

You can get the kindle app for your iPhone and then buy the kindle version of the book.

[Lyss]

It's now available as an e-book on Kindle, Nook and iPad.

Awesome!!! I have a Kindle! I'm totally gonna pick it up tonight! Thanks so much for all your help and advice!