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Daycare and Taxes>Storage Container Question...
kendallina 09:53 AM 02-14-2013
I spent a couple of hundred dollars last year on storage shelves and containers for all of my preschool supplies. I only use these for preschool supplies, however, I use my TS % for Preschool supplies because I have a 4-year old daughter that is enrolled in my preschool and uses these items. Is it correct that I need to use my TS % for the storage containers as well? Or can I use 100 % business use?

I think I already know the answer, but wanted to make sure...
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TomCopeland 11:40 AM 02-14-2013
Since the storage shelves and containers are storing items that are used partly for personal use, use your Time-Space % for the cost of the storage shelves and containers.
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kendallina 03:25 PM 02-14-2013
Yup, thank you Tom!
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frugalmama4 06:58 PM 02-14-2013
Sorry Kendalina for jacking your thread.

Tom-

Since the shelves and supplies are used for her business wouldn't this be a 100% deducible...even though her own child is in her care?...since the items will only be used during business hours?

I ask because if not then I need to re-do all of my expenses I have four kids of my own one stays home with me...but toys, craft supplies that are purchase for daycare I write of as a 100% business dedication. My kids aren't allowed in the daycare area after the last kid leaves.

Thanks Tom
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TheGoodLife 09:51 PM 02-14-2013
^ Ditto for me!
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TomCopeland 07:36 AM 02-15-2013
Originally Posted by frugalmama4:
Sorry Kendalina for jacking your thread.

Tom-

Since the shelves and supplies are used for her business wouldn't this be a 100% deducible...even though her own child is in her care?...since the items will only be used during business hours?

I ask because if not then I need to re-do all of my expenses I have four kids of my own one stays home with me...but toys, craft supplies that are purchase for daycare I write of as a 100% business dedication. My kids aren't allowed in the daycare area after the last kid leaves.

Thanks Tom
I assumed that her own children were using these supplies after day care hours. If the supplies were only used during day care hours, then she could deduct 100% of these costs.
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kendallina 06:21 PM 02-16-2013
Yes, Tom, my daughter does (occasionally) use preschool items for outside of preschool hours, so I use my TS%. Thanks for clearing it up.
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Tags:deduction - storage unit, storage
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