Daycare.com Forum
Daycare and Taxes>Creating Another Driveway For Daycare Parents
Cozy_Kids_Childcare 09:33 AM 04-20-2015
Does anyone know if I was to fill in the little side area next to my current driveway and make that additional parking if that would be considered a tax deduction next year? Right now it is a nasty muddy mess from all the rain. It has no grass.
AmyKidsCo 11:57 AM 04-20-2015
I'm not sure, hopefully Tom Copeland will chime in. Outdoors home improvements and landscaping are tricky things when it comes to taxes. 
Cozy_Kids_Childcare 12:01 PM 04-20-2015
Originally Posted by AmyKidsCo:
I'm not sure, hopefully Tom Copeland will chime in. Outdoors home improvements and landscaping are tricky things when it comes to taxes.
Hubby and I were talking about having it done either way, but it will be amazing if even a fraction of the cost is deductible. I guess I could ask our accountant but he decided to go to Key West for 12 days on April 16th. Can't say I blame the guy.I'm not sure, hopefully Tom Copeland will chime in. Outdoors home improvements and landscaping are tricky things when it comes to taxes.
Thriftylady 03:08 PM 04-20-2015
Originally Posted by Cozy_Kids_Childcare:
Hubby and I were talking about having it done either way, but it will be amazing if even a fraction of the cost is deductible. I guess I could ask our accountant but he decided to go to Key West for 12 days on April 16th. Can't say I blame the guy.
Hubby and I were talking about having it done either way, but it will be amazing if even a fraction of the cost is deductible. I guess I could ask our accountant but he decided to go to Key West for 12 days on April 16th. Can't say I blame the guy.
Only 12 days? I would need at least 12 weeks.
Second Home 03:27 AM 04-21-2015
Be sure to check if you need permits , here you need one even if you are replacing a worn out driveway in the same spot . The permits will also cost $$ and they may need to come out and look at the area .
TomCopeland 02:59 PM 04-21-2015
Originally Posted by Cozy_Kids_Childcare:
Does anyone know if I was to fill in the little side area next to my current driveway and make that additional parking if that would be considered a tax deduction next year? Right now it is a nasty muddy mess from all the rain. It has no grass.
Yes, such expense would be "ordinary and necessary" for your business and you can deduct it. If the new work would only be used by your families, you can deduct 100% of the cost. If it's used by your family, deduct the time-space %. Depending on the amount of work you do, it would either be considered a land improvement (15 year depreciation) or a repair/maintenance (1 year).Does anyone know if I was to fill in the little side area next to my current driveway and make that additional parking if that would be considered a tax deduction next year? Right now it is a nasty muddy mess from all the rain. It has no grass.
Cozy_Kids_Childcare 07:00 AM 04-22-2015
Originally Posted by TomCopeland:
Yes, such expense would be "ordinary and necessary" for your business and you can deduct it. If the new work would only be used by your families, you can deduct 100% of the cost. If it's used by your family, deduct the time-space %. Depending on the amount of work you do, it would either be considered a land improvement (15 year depreciation) or a repair/maintenance (1 year).
Thank you!Yes, such expense would be "ordinary and necessary" for your business and you can deduct it. If the new work would only be used by your families, you can deduct 100% of the cost. If it's used by your family, deduct the time-space %. Depending on the amount of work you do, it would either be considered a land improvement (15 year depreciation) or a repair/maintenance (1 year).