Time/Space Too High?

[Unregistered]

What 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 for daycare and/or storage. I work from 7am to 5:30 pm with holidays and a few vacation days. I also did the other time as Tom Copeland has talked about. Maybe mine is on the high side? I'm just curious on others.

[hwichlaz]

I work 14 hours a day, 4 days a week, and mine's roughly 41%

[NillaWafers]

That is very high number. I think most are around 25%ish?

http://tomcopelandblog.com/how-to-calculate-your-time-space-percentage-before-the-year-is-over

I guestimated and have you at 37% Time, if you use all your space it would be 100%.

Your T/S would be around 37%.

[TheMisplacedMidwestMom]

What 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 for daycare and/or storage. I work from 7am to 5:30 pm with holidays and a few vacation days. I also did the other time as Tom Copeland has talked about. Maybe mine is on the high side? I'm just curious on others.

Maybe I misunderstood how to calculate time/space percentages (I'm very new to all this)... but I only got about 34% for your situation for a typical week. (If this is not how its supposed to be done, please someone point out my errors so I can do mine correctly!)

7a-530p= 10.5 hours + 1 hour for prep/clean= 11.5 hours a day

11.5 hours * 5 days per week= 57.5 hours a week

168 possible hours in the week

57.5/168*100= 34% time * 100% space =
34% time space

[Snowmom]

Just don't forget any hours you spend doing daycare related things: shopping, cleaning, curriculum prep, interviewing.
Most of that for me is on the weekend, so I add in that time.

[daycare]

my entire house, excluding the bedrooms are all daycare related. Even one of our bathrooms is, have a small installed toilet.

Mine is 74%..

[Unregistered]

I use Minute menu. It says
Space percentage-exclusive area of home
1089 sq ft exclusively used in business
-------------------------------------------- = 73.33%
1485 total sq ft in the home

Space percentage- Refular use area of home
396 sq ft regularly used in business
----------------------------------------- =26.67%
1485 totals ft

Time percentage
2768.50 hours home is used for business
----------------------------------------------- = 31.53%
8784 hours in 2016

Time/Space percentage
73.33% exclusive area + (26.67% space x 31.52% time) = 81.74% time/Space percentage.

I plugged everything into minute menu and this is the results it gave.
I will go through and double check numbers but I'm not sure what would be wrong?

[NillaWafers]

I think your mistake is you're writing there are areas that are exclusively used for your business.

Unless you're running your business in a separate home, that number should be pretty small.

Exclusive business use means you don't use it for ANY other purpose.

[daycare]

I use Minute menu. It says
Space percentage-exclusive area of home
1089 sq ft exclusively used in business
-------------------------------------------- = 73.33%
1485 total sq ft in the home

Space percentage- Refular use area of home
396 sq ft regularly used in business
----------------------------------------- =26.67%
1485 totals ft

Time percentage
2768.50 hours home is used for business
----------------------------------------------- = 31.53%
8784 hours in 2016

Time/Space percentage
73.33% exclusive area + (26.67% space x 31.52% time) = 81.74% time/Space percentage.

I plugged everything into minute menu and this is the results it gave.
I will go through and double check numbers but I'm not sure what would be wrong?

my house sounds like yours. what are your hours of operation and what are your additional hours.

I used to be open 5:30 am to 6pm and I had CRAZY T/S that year

[Blackcat31]

Unless you're running your business in a separate home, that number should be pretty small.

Exclusive business use means you don't use it for ANY other purpose.

My time/space is 100% BECAUSE I operate out of a separate home. If I am not working, I am NOT here.

[LysesKids]

I think your mistake is you're writing there are areas that are exclusively used for your business.

Unless you're running your business in a separate home, that number should be pretty small.

Exclusive business use means you don't use it for ANY other purpose.

I don't know about her, but I actually do have a room in my home that is exclusively for daycare; I'm a single, empty nester & one bedroom is nothing but daycare usage (inc toys & babies sleeping) so yep, I was told I could claim 100% of that particular room. The rest of my home is Time/space usage

[NillaWafers]

I don't know about her, but I actually do have a room in my home that is exclusively for daycare; I'm a single, empty nester & one bedroom is nothing but daycare usage (inc toys & babies sleeping) so yep, I was told I could claim 100% of that particular room. The rest of my home is Time/space usage

Oh well I wasn't saying you can't claim 100%. But if you're actually living in your house 1000sqft/1400 sqft claiming 100% is a lot. That leaves you 400sq ft to use all other times?

[sharlan]

Mine is generally 37% to 41%.

[daycare]

Oh well I wasn't saying you can't claim 100%. But if you're actually living in your house 1000sqft/1400 sqft claiming 100% is a lot. That leaves you 400sq ft to use all other times?

Mine is almost all daycare. I have 1200 sf and 875sf is all daycare

[LysesKids]

Oh well I wasn't saying you can't claim 100%. But if you're actually living in your house 1000sqft/1400 sqft claiming 100% is a lot. That leaves you 400sq ft to use all other times?

You have a point... Hell my entire home isn't even 780 . The one bdrm I can claim 100% is 130 sq ft inc closet. The rest of my house ( inc my bdrm) I use 12 hrs a day with kids here... it's not a big place