Time Spent On Here IS Deductable

[care-care]

Question
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 I read stuff on this board? as what? How do I explainto my accountant what I am trying to claim? This is my first year (started end of oct) and I have read on this forum since before my first child cmae to get info on everything from A to Z Like emergeny plans to contracts to help with napping to everything. This site is a godsend to me .. so if I average a hour a day on here it be low but not on weekends but most days I come one and see what you guys post and chime in here and there. I would write this time down then and put it toward time space percent? My baby I have is part time( 3 day) and only one in care at moment. and so once a week I wash all his bedding and burp rags that counts? and my mileage to deposit my check? and how about the days I clean before he gets here I vacumm and mop and tidy up and get out the baby stuff . Let me know what you all think ..any other t help as I have low time as he is here like 18 hours a week.

[grandmom]

Tom Copeland will likely give his opinion. But as I recall from his books, ANY TIME you spend preparing for your child care job is included. I average it so I don't keep track of every hour, but when I was beginning, I tracked it.

[Michael]

That's a good question. I am glad this forum is helpful. I hope Tom Copeland gives us an answer.

[Abigail]

Question
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 I read stuff on this board? as what? How do I explainto my accountant what I am trying to claim? This is my first year (started end of oct) and I have read on this forum since before my first child cmae to get info on everything from A to Z Like emergeny plans to contracts to help with napping to everything. This site is a godsend to me .. so if I average a hour a day on here it be low but not on weekends but most days I come one and see what you guys post and chime in here and there. I would write this time down then and put it toward time space percent? My baby I have is part time( 3 day) and only one in care at moment. and so once a week I wash all his bedding and burp rags that counts? and my mileage to deposit my check? and how about the days I clean before he gets here I vacumm and mop and tidy up and get out the baby stuff . Let me know what you all think ..any other t help as I have low time as he is here like 18 hours a week.

So funny, now we use Tom Copeland in the search tags, so when he signs on the site he should first search for his name! LOL. I'm not sure about the time spent on this forum because it could be endless so I hope Tom does find this thread. First of all, make sure you are writing down everything to start out your record-keeping well. Have an attendance sheet or contracts showing the hours any child is in your care. That is basic common sense. The hidden factors you can count you must have heard about because of your next questions. Your time/space percentage can only be used while in your home. The time you spend you cleaning/organizing/etc should be written down and counted. This includes interviews for potential clients, emails to parents, and phone calls to clients. Keep in mind that you can't "double count" time, so do not email during nap time when you are already counting that time caring for a child. Instead, email after the child has left to continue counting that time in your time/space percentage. Make sure you write down the start/end time and what you did during that time so it's not questionable. The use of your washer/dryer should be counted as depreciable expenses. If you buy a laundry detergent, use it only for daycare and you can count that as a daycare expense. The room that your washer/dryer is in should be counted in your space percentage because you use it on a normal basis for daycare, even if the daycare kids are not allowed in the room. As for your driving to the bank, that is NOT a time/space percentage because it is done outside of your home. You can count the miles though. If you are going to the bank for other things than just daycare checks, you should only count half (or a certain percentage of) the trips you make to the bank. This is the same concept for going grocery shopping for daycare/yourself.

[Crystal]

well, if it can be claimed, there are lots of providers who can make thier time/space% go WAY up ::

If you decide to do this, I would make sure to have VERY detailed records. You'll need to record the date, time and what you discussed every time you logon. AND, honestly, I think the IRS COULD dispute the validity of your claim. If your time/space% is to high, it will send up a red flag for an audit.

[SandeeAR]

well, if it can be claimed, there are lots of providers who can make thier time/space% go WAY up ::

If you decide to do this, I would make sure to have VERY detailed records. You'll need to record the date, time and what you discussed every time you logon. AND, honestly, I think the IRS COULD dispute the validity of your claim. If your time/space% is to high, it will send up a red flag for an audit.

Don't know what Tom will say, but I'm an example of using it to learn, but not asking that many questions, so logging what I discussed would be hard. I have learned many new ideas and tips, with never even commenting.

[TomCopeland]

Time-Space %

Sorry I'm so late to respond to questions on this thread. I've been on vacation.

You can count all hours spent in your home on business activities. This includes hours any day care children are in your home (7am - 5pm = 10 hours). It also includes hours spent on other business activities after children are gone. This can include: hours spent on this forum, meal preparation, cleaning, activity preparation, phone calls, record keeping, Food Program paperwork, Minute Menu entries, parent interviews, work for your association (preparing newsletter, phone calls, etc.), etc.

You can't count hours spent away from your home - travel, attendance at training, shopping, etc.

You can't count time twice - cleaning while children are sleeping

According to a national study providers spent an average of about 14 hours a week on such activities after children were gone.

Try to track these hours carefully for at least two months a year and use this average for the rest of the year.

Write down these hours on a calendar or Minute Menu. Don't worry about the IRS. I've helped many many providers in audits and if you have careful records you will be fine.

[Abigail]

Wow, I'm shocked you can count the time spent on this forum. I am on here 5-10 hours a week sometimes!

[misol]

Wow, I'm shocked you can count the time spent on this forum. I am on here 5-10 hours a week sometimes!

COUNT IT ::

[Abigail]

COUNT IT ::

LOL, I will once I open my own daycare. I currently work in a group daycare setting and am just preparing for my own daycare. Once my husband and I buy a house I will be ready to open for business! I have the basics to start and have a handbook and contract. I just started a new job and need to focus on it, but all this daycare information is more exciting than learning my new job's tasks..... PS, I need this new job to count as income for a higher home-loan amount so I better do a good job or my future plans are screwed! ::

[Michael]

FYI, Tom Copeland wrote an article that we just published called "Tax Time Made Easier with Tom Copeland" How to Claim $89 in Deductions By Doing 5 Minutes of Record Keeping! It's short but a great read.

https://www.daycare.com/