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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 01-27-2019, 03:21 PM
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Default Replacing a 15 Year Old Driveway

Hi. Our existing driveway is too beat up to repair so we are planning to replace it this summer. Will this be considered a home improvement or maintenance? Its my understanding that a repair/maintenance can be deducted in one year while improvements need to be depreciated.
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Old 01-28-2019, 07:49 AM
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Default driveway

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Originally Posted by Daycarefamily View Post
Hi. Our existing driveway is too beat up to repair so we are planning to replace it this summer. Will this be considered a home improvement or maintenance? Its my understanding that a repair/maintenance can be deducted in one year while improvements need to be depreciated.
A driveway is a land improvement, not a home improvement. Therefore, you can deduct the business portion (time-space%) in one year on Form 4562, line 14.
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Old 01-28-2019, 05:16 PM
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Thank you!!
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