« How to Claim Food Expenses | Main | Tom Copeland's Training Schedule February 2011 »

01/27/2011

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a0133f3fc5805970b0148c81392fd970c

Listed below are links to weblogs that reference The Time-Space Percentage Quiz:

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

Veronica S

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?

tom

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

Alinda Wiarda

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.

tom

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.

AJ Bindl

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?

Tom

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.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been saved. Comments are moderated and will not appear until approved by the author. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Comments are moderated, and will not appear until the author has approved them.

Subscribe

  • Email Subscription

    Enter your email address:

    Delivered by FeedBurner

Become a Fan

Poll


Blogroll

Google Analytics