Daycare.com Forum Daycare Forum

Go Back   Daycare.com Forum > Daycare and Taxes

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.

Reply
 
Thread Tools Display Modes
  #1  
Old 01-10-2011, 02:35 PM
llove530's Avatar
llove530 llove530 is offline
Daycare.com Member
 
Join Date: Jan 2011
Posts: 23
Default Utilities Expenses for Tom Copeland

Tom,

Do I also need to figure out my Time/Space % before entering my all utilities into Turbo Tax? I think I did it wrong last year on my 2009 taxes by entering in the total amount thinking Turbo Tax did the math - ugh!!
Reply With Quote
  #2  
Old 01-11-2011, 10:28 AM
TomCopeland's Avatar
TomCopeland TomCopeland is online now
Business Author/Trainer
 
Join Date: Jun 2010
Location: St. Paul, Minnesota
Posts: 3,060
Default Utilities on turbo tax

Since utilities are an expense that appears on Form 8829 Turbo Tax should have multiplied it by your time-space percentage that is calculated elsewhere. So, I don't think you have to worry. It's when providers deduct shared expenses on Schedule C (toys, supplies, repairs, etc.) that the software doesn't apply the time-space percentage.
__________________
http://www.tomcopelandblog.com
Reply With Quote
Reply

Tags
time space percentage, tom copeland, utilities

Thread Tools
Display Modes

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Tom Copeland Presents a Family Child Care Webinar For Daycare.com Members Michael Daycare Center and Family Home Forum 11 03-01-2011 09:36 PM
MMK, Expenses, T/S% Question?? Lisa4kids Daycare and Taxes 2 01-23-2011 08:08 PM
Utilities Expenses MommyD Daycare and Taxes 5 01-11-2011 10:33 AM
Explaing Expenses to Parents melissa ann Daycare Center and Family Home Forum 18 12-18-2009 04:15 PM


All times are GMT -7. The time now is 06:16 AM.



Daycare.com         Find A Daycare         List Your Daycare         Toys & Products                 About Us

Daycare.com
Please read our Disclaimer before continuing.

Topics pertain mainly to the following States:

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming