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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.

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Old 05-17-2012, 07:29 PM
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Kim Kim is offline
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Join Date: Jan 2010
Posts: 140
Default New Roof?

We are putting a new roof on our house this summer. We bought the shingles and some supplies for it last night. I'm keeping all the receipts for it but am not sure which category to put it in on the calendar keeper and am already wondering what to do when it comes to tax time next year. I'm assuming only a percentage of it will count towards a daycare expense and that it will have to be depreciated?
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Old 05-17-2012, 08:31 PM
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TomCopeland TomCopeland is offline
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Location: St. Paul, Minnesota
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Default roof

A roof is a home improvement that you depreciate over 39 years. Use your time-space %.
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Old 05-18-2012, 06:29 AM
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Kim Kim is offline
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Posts: 140

Thanks for the help Tom!
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deduction - repairs, depreciation, roof, tax question, tom copeland

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