Time Space Percentage Question?

[Alexandra]

ok I am confused can someone help me. Here is my info. So far I've worked 1793 hours. The sq ft I can count is 1850 and I use all of it. What would the answer be?

[TomCopeland]

Time-Space %

Your t/s% so far this year is:
1,793 hours worked Jan 1-Aug 26 divided by 5,712 (total number of hours Jan 1-Aug 26) = 31.3% x 100% space = 31.3%

[Alexandra]

Your t/s% so far this year is:
1,793 hours worked Jan 1-Aug 26 divided by 5,712 (total number of hours Jan 1-Aug 26) = 31.3% x 100% space = 31.3%

Ok I get it, now do I divide 31.3% into the total cost of say my electric bill for the year so far?
Thanks for helping me.

[TomCopeland]

Time-Space %

You don't have to worry about what your time-space % is until the end of the year. Whatever your t/s% is at the end of the year is the number you will use to determine how much you can deduct on your taxes. So, if your t/s% is 31.3% at the end of the year, and your utility bills were $2,000 for the year, then you could deduct $626 ($2,000 x 31.3%).