Default Style Register Forum
Daycare and Taxes>Outside Things
mema 07:12 PM 11-09-2011
Couple questions.
We took down our deck because we had animals going under and doing their business. We got a dumpster to get rid of the wood. Is any of that deductable? How about next spring when we lay a patio?
I also redid some of our play area. I built a "playzone" with a wood border and added wood chips. What kind of expense caterogory can I enter that in on MMK?
TomCopeland 10:01 AM 11-10-2011
Assuming you used the deck for business purposes when it was there, you can deduct the time-space percentage of the cost of removing it as a repair/maintenance expense.
When you put in a patio next year, depreciate it over 15 years (land improvement). If you had put the patio in this year you could have taken advantage of the 100% bonus depreciation rule that allows you to claim the entire business portion of the cost in 2011. Oh well.
The wood chips are clearly a repair expense. The wood border can be deducted all in 2011 using the 100% bonus depreciation rule, rather than depreciating it. Enter it under land improvement on MM.
mema 10:52 AM 11-10-2011
Thanks! Unfortunately it wasn't in the budget to do this year. Hopefully it will be next year! The smell was just so bad that no one wanted to play there.
Tags:deduction - furniture, depreciate, mmk
Reply Up