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Daycare and Taxes>T/S% Round or Actual?
Lyss 07:48 PM 02-09-2013
I know the IRS generally rounds all numbers to the nearest whole number. Is this the case for the T/S%?

Mine comes out to .3175, so should I round to 32% or go with the actual 31.75%?
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CrackerJacks 11:19 AM 02-10-2013
I would do the actual, my tax preparer always does the actual.
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TomCopeland 11:28 AM 02-10-2013
Originally Posted by Lyss:
I know the IRS generally rounds all numbers to the nearest whole number. Is this the case for the T/S%?

Mine comes out to .3175, so should I round to 32% or go with the actual 31.75%?
You can either round it to the nearest % or list several decimal points.

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Lyss 08:50 PM 02-11-2013
Thanks!

I had it rounded to 32 for all my calculations but my tax software (taxact) is using the actual so I guess I have to go back through and recalculate with the actual!
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