Repairs/maintance or improvement

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  • mema
    Daycare.com Member
    • Jul 2011
    • 1979

    Repairs/maintance or improvement

    We had some ceiling leaking issues. They had to remove the ceiling and replace some pipes and then the insulation, drywall, etc. Which area do I put it under? Also, I had to write 3 different checks because they were all different contractors doing different stages. Write it all as one or make 3 entries?
  • TomCopeland
    Business Author/Trainer
    • Jun 2010
    • 3062

    #2
    Repairs

    Originally posted by mema
    We had some ceiling leaking issues. They had to remove the ceiling and replace some pipes and then the insulation, drywall, etc. Which area do I put it under? Also, I had to write 3 different checks because they were all different contractors doing different stages. Write it all as one or make 3 entries?
    These are all repairs and can be deducted in one year. Multiply by your time-space %. Make three entries.
    http://www.tomcopelandblog.com

    Comment

    • midaycare
      Daycare.com Member
      • Jan 2014
      • 5658

      #3
      Originally posted by TomCopeland
      These are all repairs and can be deducted in one year. Multiply by your time-space %. Make three entries.
      So repairs can all be deducted in one year, even if they are over $100?

      Comment

      • TomCopeland
        Business Author/Trainer
        • Jun 2010
        • 3062

        #4
        repairs

        Originally posted by midaycare
        So repairs can all be deducted in one year, even if they are over $100?
        Yes, repairs are deducted in one year, regardless of the cost.
        http://www.tomcopelandblog.com

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