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Daycare and Taxes>Help! Recording Appliance Purchase?
missT 05:52 AM 08-11-2015
I recently purchased a new washer and dryer. Now, I'm trying to figure out how to record it in my monthly ledger. I know that I will need to use my S/T% for deducting it but how do I write it down in my books? I haven't completed a fiscal year so I don't know exactly how many hours I will end up working in a year so I haven't figured out my S/T%. Would I just estimate it using the average hours I've worked over the last few months I've been open and figure it that way and record it after applying my S/T%? Sorry I'm still a bit new to bookkeeping. Thanks in advance!
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TomCopeland 07:48 AM 08-11-2015
Originally Posted by missT:
I recently purchased a new washer and dryer. Now, I'm trying to figure out how to record it in my monthly ledger. I know that I will need to use my S/T% for deducting it but how do I write it down in my books? I haven't completed a fiscal year so I don't know exactly how many hours I will end up working in a year so I haven't figured out my S/T%. Would I just estimate it using the average hours I've worked over the last few months I've been open and figure it that way and record it after applying my S/T%? Sorry I'm still a bit new to bookkeeping. Thanks in advance!
Put down in your ledge the full cost of the washer and dryer. You won't know how much to deduct until the end of the year when you know your time-space %.
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Unregistered 07:50 AM 08-11-2015
Awesome, thanks!
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