Daycare Space ????

[Unregistered]

Hi eveeryone!
This is my first year doing daycare and have 1 big question. The space I use for my daycare is actually a small 2 bedroom apartment that is attached to our home. Our home is only 1 unit and this was redone so that my mother could live with us and still have her own space. Now I use it for the daycare. When my mom lived there she gave us $500 a month for everything. Should I just do that or try for the time/space thing? I feel that if I just did the $500 it would make more sense because I d actually have a specific location for the business. I'm so confused any help is very much appreciated. Thank you!!!!

[TomCopeland]

Don't use $500 in your calculations. It has nothing to do with your business. You can claim the space in the 2 bedroom apartment as exclusive use space. It's not clear to me what are all the rooms you are using for your business. Please clarify. Here's an article on exclusive use rooms:http://www.tomcopelandblog.com/2011/02/the-exclusive-use-rule.html

[Unregistered]

Thanks Tom! I have a kitchen, livingroom, bathroom and 2 bedroom I use specifically for the daycare. Nothing else.

[TomCopeland]

Thanks Tom! I have a kitchen, livingroom, bathroom and 2 bedroom I use specifically for the daycare. Nothing else.

I assume you are saying that you use these rooms exclusively for your business. What other rooms in the home are there that you use personally?