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We did some updates to our kitchen throughout 2019 I paid a contractor to replace countertops (over $5k) and paid a separate contractor to replace floor...
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We recently had hail damage and replaced the roof and gutters.
Insurance covered everything except obviously the $2000 insurance deductible. ... -
We are adding an addition to our driveway to increase parking availability for parents. Keep receipts and deduct?
If we do a large chunk... -
Hope everyone is have a great week! It's almost over!! We had a lot of work done on our house this year. Does it matter if i put the repairs under repair...
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If we put in a fireplace would we be able to write off the cost? Also what about finishing a basement? Would there be any tax benefit to that? Or would...
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Hi. Our existing driveway is too beat up to repair so we are planning to replace it this summer. Will this be considered a home improvement or maintenance?...
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In April of 2018 we had to replace our A/C unit which cost over $8,000. How do I write this off as a deduction for my expenses? I know I can’t take...
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I have replaced 11 of 21 windows and had new siding on the gables of the house in 2017 spending $9,000. Windows were energy efficient. How will this...
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So I read your blog, about the new tax laws. It's a lot to take in, and I want to check my understanding on it.
If I understand correctly,... -
I am wondering if I can write of t/s deduction of bathtub remodel. We found wood rot/mold and had to tear out our entire shower area and put in a new...
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I paid to get my taxes done this year and my accountant depreciated:
1. Windows we replaced: 39 years.
2. Water Heater we replaced: 7 years.... -
I just have a quick question on home repairs and updates. My playroom is in desperate need of new windows, and I had planned to pay for these from my...
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We signed contract to demo and refinish our basement back in November 2015, deposits were paid and work started. Payments were due with each phase of...
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I claimed my foster child August - December on the food program. We aren't able to claim her as a dependent on our taxes due to her not being here for... -
As mentioned in my last post, I opened my daycare in November 2015, so this is the first year I'm filing taxes as a provider. We bought our home 1.5 years...
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I just got a letter from my tax guy about the change in the deduction for repairs. AND he needs to see all the repairs listed for the last 3 returns.... -
We use our back yard a lot for daycare. We have a 2 story walkout, and under our deck is where we store our outside toys and riding things. It is a...
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Hello,
Had to get a new roof.
I know it is a home improvement. Is it 39 years???
Also, when they took off... -
Ok so we started construction on a new center in august. Since then we have been spending all kinds of money on supplies and interest payments ect. Since...
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This year we added onto our deck. We will use this additional area for story time during nice days as well as enjoying lunch outdoors. The cost of the...
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Hi... This is my second year as a homedaycare provider.
For tax purposes, how do I depreciate my home if we had a new roof installed this year...02-25-2012, 10:55 AM -
We had to replace 2 windows this year in the 100% day care area of our home. It was not by choice and they were only about 8 years old. Problem was the...
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We've done several home improvement projects to our home this year including regrouting our tile, remodeling our kitchen and replacing all of our windows....
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I am new here sorry if this has already been said
How do you record building a deck? ( would I do a time share %)
How do I record... -
I have a few questions:
Earlier this year, we had an issue with one of our porch beams rotting. We decided to take down the railing surrounding... -
Rented a dumpster to re-do our roof. We were billed seperately for the dumpster. Do we wrap all the costs to complete the project together then divide...
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We recently replaced our roof. Does this go under home repair (expense all in 1 yr) or is this a home improvement (depreciate over 39 years). We made...
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We were informed that the playset in our backyard would need to be mulched before the daycare children could play in the backyard as part of NY state's...
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I think I'm getting hung up on th erules or the definitions on what makes something a repair or maintainence vs a home improvement.. What are the rules...
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I have not started my day care yet but in preparation for opening on May 1st we are fencing our yard and buying a mini van. Can these be written off if... -
We had installed a hose, spicket etc to the back of our home and moved the one from the inside of the garage to the outside of the house. It required...
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We have done these things. Please tell me if any of them are NOT considered home improvements:
Added a deck to the front of the house... -
We had a central humidifier installed late last yr. Would this be considered a home improvement or should I just depreciate it?
Another... -
Ok Tom, you said I can put down past improvements, now I have a question. Do they get recorded in MMk under Home Improvements? But how does it get added...
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I had a large unfinsished room in my home (25 x 15). During the summer and fall of 2010, my husband and I finished this room and made it into a dedicated...