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Old 09-18-2010, 05:40 PM
legomom922's Avatar
legomom922 legomom922 is offline
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Default Taxes: Time/Space vs % of Business Use

Tom had said something very simple but made so much more sende and I always remember it..He said it's not "why" you bought something, that matters, but "how" it is used..

So now I'm wondering if there is another "simple" way to answer this question about weather something is time/space % or % of business use.

1.Would I be correct in assuming that if something in your home "could" be used for personal, it would be time/space?

2. If the item is used MORE for business than personal, we would then use the % business use?

Because if I am using the t/s method, and say it comes to 11% of the time,

but if I am using that item more for business than personal, it could be a 90% business use item?

Does that make sense?

Tom, I sure hope you are out there tonight, because I have alot of tax questions!
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taxes, time space percentage

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