## 01/27/2011

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If I closed my daycare last year on July 31, will I only have Jan-July hours for the year? How do I calculate my T/S % for 2012?

Add up the hours you worked from Jan-July and divide them by the total number of hours in the year from Jan-July. Apply your time-space % to your expenses from Jan-July. See my article on this:http://www.tomcopelandblog.com/2012/01/how-to-claim-expenses-when-you-arent-in-business-the-entire-year.html

Should I be claiming an unattched shop that stores our lawn mower, snow blower and various rakes/shovels...that the kids use? My hubby also uses this area to fix daycare items that get broken.

Yes, I would count a shop as part of the square footage of your home. In your case you can count the square footage as being regularly used for your business.

Does a depreciable basis change year to year with changing time/space %'s or is it locked in during year one (purchase year)? Example buy asset for \$1000 x 20% T/S% = \$200 depreciable basis. Year 2 T/S drops to 18%. Does overall depreciable basis drop to \$180 or remain at \$200?

The depreciable basis changes each year depending on the time-space %. So, in your example, the basis for depreciate=ion in Year 2 is \$180.

When I do my space @ 78.4% and then my time @ 29.08% that gives me a total of 2279.872, Is that 22.79% for my T/S%?

Yes!

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