Record Keeping!

[lunademiel]

[QUOTE=I track all my expenses in an Excel spreadsheet for the following:
Food & Kitchen Supplies
Toys & Equipment
Craft Supplies
Field Trips & Outings
Gifts & Seasonal Celebrations
Office Expenses
Advertising & Website
Daycare area only Maintenance & Repairs
% of Household maintenance
Professional Development
% Vehicle Expenses
Business Liability Insurance
% of annual Mortgage Interest
% of annual Property Tax
% of annual Gas bill total
% of annual Hydro bill total
Rogers Internet bill for business
Cell phone bill for business
Bell - additional services for answering machine, call display[/QUOTE]

How do you calculate the % for mortgage interest, property tax, hydro, etc?

[Inspired by Reggio]

How do you calculate the % for mortgage interest, property tax, hydro, etc?

I use the CRA equation for this - we have a specific one for 'home childcare care' because we have 'shared space' generally verses entirely 'dedicated space' like a hairdresser or someone would have where the space is not used for 'home use' at anytime.

(Square footage of home used for business / total Square footage of home) x (hours worked / 24 hours) x (days open / 365 days) = % of shared expenses

So for example if you use 850 square feet of your 1500 square foot home, are open 10 hours a day of a 24 hour day, and your program is open 240 days a year out of 365 your equation would be 850/1500 x 10/24 x 240/365 x 100 ... and would 15.5 % of your 'shared expenses' being business related.

If you suck at math you can put your equation into google and hit search and it will do the math for you