Daycare.com Forum Daycare Forum

Go Back   Daycare.com Forum > Daycare and Taxes

Daycare and Taxes All things related to Taxes and running a Daycare post here. Topics of tax exemptions, forms, filings, tax write offs, IRS etc.

Reply
 
Thread Tools Display Modes
  #1  
Old 03-01-2021, 06:10 PM
Unregistered
Guest
 
Posts: n/a
Default Furnace and AC

Is there any way to deduct these replacement costs the first year, or must they depreciated?
Reply With Quote
  #2  
Old 03-02-2021, 12:58 PM
TomCopeland's Avatar
TomCopeland TomCopeland is offline
Business Author/Trainer
 
Join Date: Jun 2010
Location: St. Paul, Minnesota
Posts: 3,066
Default Furnace

Quote:
Originally Posted by Unregistered View Post
Is there any way to deduct these replacement costs the first year, or must they depreciated?
They are a home improvement that must be depreciated over 39 years. However, if you meet one of two exceptions you may be able to deduct the business portion in one year. See my article: http://tomcopelandblog.com/how-to-de...me-improvement
__________________
http://www.tomcopelandblog.com
Reply With Quote
Reply

Tags
depreciation - bonus, depreciation vs expense

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
New Furnace SilverSabre25 Daycare and Taxes 2 04-11-2014 10:30 AM
Depreciation Question for Tom suehelen Daycare and Taxes 5 02-09-2013 04:34 AM


All times are GMT -7. The time now is 05:49 PM.



Daycare.com         Find A Daycare         List Your Daycare         Toys & Products                 About Us

Daycare.com
Please read our Disclaimer before continuing.

Topics pertain mainly to the following States:

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming