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Old 09-20-2012, 09:03 AM
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TomCopeland TomCopeland is offline
Business Author/Trainer
Join Date: Jun 2010
Location: St. Paul, Minnesota
Posts: 3,052
Default Deductions

Originally Posted by Unregistered View Post
Just curious if I am in line with others on my deductions.
Curious how much you deduct? Mine figures to about 1/2.
$57,000 came down to $29,000 after deductions.
I just feel like I am still missing something.
In my experience the deductions that providers most often miss are: car loan interest, depreciation on furniture and appliances purchased before they went into business, too low food expense (because they didn't count meals and snacks served that were not reimbursed by the Food Program), too low time-space % (because they didn't count the hours they used their home for business when children were not present), too low time-space % (because they didn't count all the rooms in their home as regularly used for their business).
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