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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 02-14-2013, 10:53 AM
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Default Storage Container Question...

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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Old 02-14-2013, 12:40 PM
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Default Storage

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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Old 02-14-2013, 04:25 PM
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Yup, thank you Tom!
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Old 02-14-2013, 07:58 PM
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Default Tom...I have a question

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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Old 02-14-2013, 10:51 PM
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^ Ditto for me!
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Old 02-15-2013, 08:36 AM
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Default Storage

Quote:
Originally Posted by frugalmama4 View Post
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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Old 02-16-2013, 07:21 PM
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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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