Daycare.com ForumDaycare Insurance Daycare Insurance LIST YOUR DAYCARE!

FIND A DAYCARE!

Facebook


Go Back   Daycare.com Forum > Daycare and Taxes

Daycare and Taxes All things related to Taxes and running a Daycare post here. Topics of tax exemptions, forms, filings, tax write offs, IRS etc.

Reply
 
Thread Tools Display Modes
  #1  
Old 03-15-2011, 01:44 PM
legomom922's Avatar
legomom922 legomom922 is offline
Advanced Daycare.com Member
 
Join Date: Jul 2010
Location: FL
Posts: 1,021
Default Tom: Need More Clarification On Business Trips

In 2 of your books I'm reading, it says for a trip to be considered a business trip, the main reason for the trip should be for business, or that you bought more business stuu vs personal stuff, etc. I understand that. However, does this mean th eitems you are buying have to be 100% business? or are we talking t/s %? Most of my trips were to our super walmart, where I usually more "supplies" rather than food, such as the clorax wipes, dish detergent, laundry deterent etc etc, but these items are shared, so can I still call these trips business trips? If my main purpose was to go to the store to but cleaning supplies, but they are considered t/s % items, do they still count?
Reply With Quote
  #2  
Old 03-16-2011, 09:13 AM
TomCopeland's Avatar
TomCopeland TomCopeland is online now
Business Author/Trainer
 
Join Date: Jun 2010
Location: St. Paul, Minnesota
Posts: 1,987
Default Business trips

Here's a simple example. You go to the store to buy supplies only. All of the supplies are used for business and personal purposes. Your time-space % is 40%. I wouldn't claim this as a business trip since the majority of cost of the supplies are personal.

Now, if you ran out of toilet paper and had to go to the store to get toilet paper for the next day for the children, I would claim this as a business trip, even though the majority of the cost of the toilet paper was personal. This is because the primary reason for this trip was to have toilet paper for your business.

There aren't rigid rules about this. If you took 4 trips to Walmart to buy supplies in the first two months of the year, and all the supplies were used business and personal I might claim 2 of the trips as business trips.

The main problem to avoid is claiming all of your trips to Walmart as business.
__________________
http://www.tomcopelandblog.com
Reply With Quote
Reply

Tags
deduction - trips, deductions

Thread Tools
Display Modes

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Business Checking Account? Kim Daycare and Taxes 3 06-10-2012 05:03 PM
Technically Opened In June But Been Preparing Since January... E Daycare Daycare and Taxes 9 01-20-2011 07:12 AM
Exclusive Business Use SilverSabre25 Daycare and Taxes 3 01-18-2011 09:38 AM
Taxes: Time/Space vs % of Business Use legomom922 Daycare and Taxes 4 09-21-2010 04:22 AM
Question for Those That do Field Trips? sahm1225 Daycare Center and Family Home Forum 8 08-09-2010 06:41 AM


All times are GMT -7. The time now is 04:37 PM.



Daycare.com         Find A Daycare         List Your Daycare         Toys & Products                 About Us

Daycare.com
Please read our Disclaimer before continuing.

Topics pertain mainly to the following States:

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming