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Do we calculate in our taxes our time worked outside of the time caring for children? Like the cleaning time, or cooking/baking on weekends? I'm thinking no, but not sure. TX!
Edit add:. I've been reading thru Canada revenue site to check but didn't see adding in time to our calc. just floor space. But when I search internet, some sites advise to include time in a "Time-Space" percentage... (tomcopelandblog..co m) Which is it?
if its for daycare then yes. and interviews if done outside of dc hour, plus interview prep.
Yes, add extra hours into % use of home calculations. Ie. I operate 9.5 hours a day but average 12-15 extra hours a week to manage the business and run errands etc. Therefore I add in 2.5 or 3 extra operating hours a day in the 5 days I am open. I have verified this with my accountant.
hmmm...did not know this...when i think of the cleaning and laundry time...and specifically going grocery shopping etc. it does ad up....i don't know...sometimes, it's a couple extra hours here and there...so how does one add those hrs in if it's not on a daily basis?
I am open from 7am until 4.30pm. That's 9.5 hours. I claim 12 hours a day due to cleaning, laundry of sheets, sanitizing toys and because I cook day care lunches the evening before. Add in grocery shopping time, the weekends I take a whole day to advance prep meals and crafts and it adds up.