What category would these go in?

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  • tenderhearts
    Daycare.com Member
    • Jan 2010
    • 1447

    What category would these go in?

    I have a couple of things I don't know what category they should go in, I could ask my accountant but I'd rather just have it ready for her.

    My husband made a kid size picnic table 100% business (we don't have little children any more) so the wood and hardware to build it??

    Purchased shelf organizer from IKEA 100% business it's has all daycare stuff in it, puzzles, coloring books, markers ect. It was $90. would that go under supplies??

    Thanks
  • Baby Beluga
    Daycare.com Member
    • Aug 2014
    • 3891

    #2
    I have some similar items and I categorized them as daycare furniture. They were purchased and used solely for DC activities.

    Not sure if that is correct though

    Comment

    • TomCopeland
      Business Author/Trainer
      • Jun 2010
      • 3062

      #3
      Expesnes

      Originally posted by tenderhearts
      I have a couple of things I don't know what category they should go in, I could ask my accountant but I'd rather just have it ready for her.

      My husband made a kid size picnic table 100% business (we don't have little children any more) so the wood and hardware to build it??

      Purchased shelf organizer from IKEA 100% business it's has all daycare stuff in it, puzzles, coloring books, markers ect. It was $90. would that go under supplies??

      Thanks
      In the end, it doesn't matter what expense category you put your items in. I'd put the picnic table under Activity Expenses (under Other Expenses on Schedule C). I'd put the shelf organizer under Supplies. See my article on this: http://www.tomcopelandblog.com/2014/...-purchase.html
      http://www.tomcopelandblog.com

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