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Daycare and Taxes>How is T/S % changed when no kids are enrolled?
Monkey Business 10:45 AM 10-29-2014
I had a daycare family move at the end of May. I chose to be closed in June for personal reasons. Sadly I had trouble finding new families and didn't have any kids till the begining of Oct. Anyway, my question is how does this effect my Time percentage? There were still some hours spent doing interviews in those months but no kids enrolled. Do I only use the hours from the months kids were enrolled? The only month I was technically closed was June.
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TomCopeland 07:05 AM 10-30-2014
Originally Posted by Monkey Business:
I had a daycare family move at the end of May. I chose to be closed in June for personal reasons. Sadly I had trouble finding new families and didn't have any kids till the begining of Oct. Anyway, my question is how does this effect my Time percentage? There were still some hours spent doing interviews in those months but no kids enrolled. Do I only use the hours from the months kids were enrolled? The only month I was technically closed was June.
I would count all the hours you worked in your home, including hours when children weren't present. Start counting hours in the year, beginning when the first child was enrolled. Because of being closed for some time, and only working a few hours during those months, your time-space % will be lower than if you weren't closed. But, you will be able to claim house expenses from the end of May until the end of December.
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Monkey Business 03:07 PM 10-30-2014
Thank you!!
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Tags:taxes, time space percent
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