Daycare.com Forum

Daycare.com Forum (https://www.daycare.com/forum/index.php)
-   Daycare and Taxes (https://www.daycare.com/forum/forumdisplay.php?f=8)
-   -   Fence Expenses (https://www.daycare.com/forum/showthread.php?t=92042)

LittleExplorers 07-02-2019 12:00 PM

Fence Expenses
 
We are putting in a fence ourselves. Where does th3 expense of materials and tools go in tax forms? I am funding it with grant money if that makes a difference.

TomCopeland 07-03-2019 11:30 AM

fence
 
Quote:

Originally Posted by LittleExplorers (Post 704883)
We are putting in a fence ourselves. Where does th3 expense of materials and tools go in tax forms? I am funding it with grant money if that makes a difference.

You can deduct the business portion of the fence in one year, rather than depreciating it. If you are required to put up the fence by licensing, deduct 100% of the cost. If you have personal reasons for the fence, deduct part of the cost, using either your time-space% or an actual business use percent. If the cost is less than $2,500, claim it on Schedule C as a repair. If the cost is more, claim it on Form 4562, line 14.


All times are GMT -7. The time now is 01:40 PM.