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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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Old 12-27-2014, 10:03 PM
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mountainside13 mountainside13 is offline
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Default Minute Menu Help

We purchased a house in April how do I spilt the time-space percentage for 2 separate houses during the year?
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Old 12-28-2014, 06:43 AM
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We moved in July and as far as I have been able to tell, there is no easy way to do it. Basically use you have to run your tax reports twice and then add the information together. So run it from Jan 1 until your move date, change your space information and run it again from your move date through Dec 31st.
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Old 12-28-2014, 12:42 PM
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Originally Posted by snbauser View Post
We moved in July and as far as I have been able to tell, there is no easy way to do it. Basically use you have to run your tax reports twice and then add the information together. So run it from Jan 1 until your move date, change your space information and run it again from your move date through Dec 31st.
Darn! Ok thanks!
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Old 12-28-2014, 08:36 PM
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Default House expenses

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Originally Posted by mountainside13 View Post
We purchased a house in April how do I spilt the time-space percentage for 2 separate houses during the year?
If you used two homes for your business in 2014, here's an article that explains how to calculate the expenses for each home: http://www.tomcopelandblog.com/2011/...-one-year.html

If you only started doing child care in April, here's an article to tell you how to claim house expenses when you weren't in business for a full year: http://www.tomcopelandblog.com/2012/...tire-year.html
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Old 12-29-2014, 04:03 PM
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mountainside13 mountainside13 is offline
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Originally Posted by TomCopeland View Post
If you used two homes for your business in 2014, here's an article that explains how to calculate the expenses for each home: http://www.tomcopelandblog.com/2011/...-one-year.html

If you only started doing child care in April, here's an article to tell you how to claim house expenses when you weren't in business for a full year: http://www.tomcopelandblog.com/2012/...tire-year.html
Thank you Tom! That is very helpful!
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