Storage Container Question...

[kendallina]

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...

[TomCopeland]

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.

[kendallina]

Yup, thank you Tom!

[frugalmama4]

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

[TheGoodLife]

^ Ditto for me!

[TomCopeland]

Originally Posted by frugalmama4

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.

[kendallina]

Yes, Tom, my daughter does (occasionally) use preschool items for outside of preschool hours, so I use my TS%. Thanks for clearing it up.