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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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Remodel of Shared Space
We remodeled our downstairs this summer. I know we use the T/S% for supplies we bought, but is there a breakdown we should use?
I want to use the 50% bonus depreciation for the carpet, and I think I can...Right? Do I separate the amount we paid the handyman, from the electrician, and other services? Can all materials from toilet to nails be written off (with T/S%) and lumped together? Thanks for any help |
#2
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remodeling
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Can't separate amounts paid to handyman and others. Must be included in the total cost and depreciated over 39 years. Can include all materials as part of the 39 year depreciation. Don’t miss my February 4th webinar “Tax Changes for 2013: How to Avoid Mistakes When Filling Out Your 2013 Tax Forms.” It starts at 9pm Eastern Time and is sponsored by Daycare.com. Register here:http://events.r20.constantcontact.co...&llr=yatrx4cab
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home depreciation, home improvements, t/s%, taxes |
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