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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. |
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#1
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Tom, Can You Help Me??
I can't seem to figure out Time and space!
100% Business = 421 sq ft 1701 regularly for business = 1701 Total of sq. ft. = 2122 and my hours are 2646 I have been trying for an hour to get this part...still blank Can you tell me my time & space PLEASE! Also I closed my childcare on December 11 and moved to another state. Anything I should do to report it? I am not going to open another childcare business. |
#2
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time-space
421/2122 = 19.8%
1701/2122 = 80.2% 2646/8760 hours in year = 30.2% time 80.2% x 30.2% = 24.2% 24.2% + 19.8% = 44% Time-Space Multiply 44% by all your house expenses. Ignore the fact that you closed your business close to the end of the year.
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time space percentage |
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