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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 02-16-2014, 07:54 AM
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AnythingsPossible AnythingsPossible is offline
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Default Depreciation Question

We did numerous home improvements this year in regards to new vanities, new faucets, countertops, etc. Some were under $100, nothing was over $200. Do I have to total and depreciate these, or can I claim T/S? I appreciate any input!
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Old 02-16-2014, 10:12 AM
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Default Depreciation

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Originally Posted by AnythingsPossible View Post
We did numerous home improvements this year in regards to new vanities, new faucets, countertops, etc. Some were under $100, nothing was over $200. Do I have to total and depreciate these, or can I claim T/S? I appreciate any input!
It depends. If you were remodeling a room, then all the costs associated with that room would have to be depreciated, regardless of how small the cost. If you simply replaced a faucet or added a new vanity, you can deduct any item that cost less than $200 in one year (after applying your time-space %).
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