Updates to the 2016 Family Child Care Tax Workbook and Organizer

Here are some updates to my 2016 Family Child Care Tax Workbook and Organizer:

Home Improvements, page 92: In the discussion of how to depreciate home improvements I should have included the fact that the new 50% bonus depreciation rule applies to home improvements. So, the example on page 93 should be revised to say:

$3.000 Total cost of kitchen remodeling

x 25% Time-Space percentage

$750 x 50% bonus depreciation = $375 – deduct on Form 4562, line 14

The remaining $375 depreciate over 39 years: $375 x 1.819% = $6.82 – deduct on Form 4562, line 19i