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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 02-09-2013, 07:48 PM
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Lyss Lyss is offline
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Default T/S% Round or Actual?

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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Old 02-10-2013, 11:19 AM
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I would do the actual, my tax preparer always does the actual.
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Old 02-10-2013, 11:28 AM
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Default Time-Space%

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Originally Posted by Lyss View Post
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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Old 02-11-2013, 08:50 PM
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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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