Thriftylady 02:20 PM 10-13-2015
Okay so from reading Tom's books, I know I can deduct photo copies. Problem is I didn't know that until I read his book recently. We all know ink is expensive and go all use a ton of it. So is there a way to deduct ink? Of course DD uses my printer for some school work, but I use it mostly for daycare stuff. Trying to get some of my tax stuff together and not sure how to handle this one.
sahm1225 05:54 PM 10-13-2015
Could you use time/space % since it's shared?
TomCopeland 08:07 AM 10-14-2015
Originally Posted by Thriftylady:
Okay so from reading Tom's books, I know I can deduct photo copies. Problem is I didn't know that until I read his book recently. We all know ink is expensive and go all use a ton of it. So is there a way to deduct ink? Of course DD uses my printer for some school work, but I use it mostly for daycare stuff. Trying to get some of my tax stuff together and not sure how to handle this one.
Multiply the total cost of the ink by your time-space %.
Thriftylady 08:19 AM 10-14-2015
Originally Posted by TomCopeland:
Multiply the total cost of the ink by your time-space %.
Thanks Tom that is what I was thinking but wanted to be up and up lol. I figure if I do things right I will never get an audit. The rule of thumb in my life seems to be mess it up and someone will catch it lol.
spedmommy4 07:01 AM 10-15-2015
My T/S hovers around 40% but I found that I was actually doing about 90% of the family printing. (For business). I bought the business a separate printer. I assume that solves my t/s dilemma but I haven't run it by my accountant yet.
TomCopeland 07:35 AM 10-15-2015
Originally Posted by spedmommy4:
My T/S hovers around 40% but I found that I was actually doing about 90% of the family printing. (For business). I bought the business a separate printer. I assume that solves my t/s dilemma but I haven't run it by my accountant yet.
If you keep some records showing you use it 90% for your business you can deduct 90% of the cost. See my article on this:
http://tomcopelandblog.com/how-to-ca...ss-use-percent