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Old 03-07-2017, 10:54 AM
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daycarediva daycarediva is online now
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Default Bunch Of Questions

We are renovating a home, some of the renovations are for the child care space, which is completely separate and not used by my family at all. What about things we will be using for exclusive/100% child care use, like fridge, stove? Should I deduct them under expenses?

In addition, what about renovations NOT in the child care space, but necessary to run child care, like the plumbing expenses necessary to bring the water up to code? (UVA/UVB light, carbon, sediment filters, water softener) Time/space %?

They are requiring we get a fence for child care use, since the neighbors have a pool/unsecured. Can I deduct 100% of that?

AND, (last one, I promise!) what about renovations in non daycare areas that are REQUIRED by licensing (I can get a note) our state requires the entire home to be within code, and they are not passing my deck. I need it fixed before I can be licensed. We can't just remove it, as the deck/stairs are all one big piece and leads to the separate/front entrance to our home (hard to explain, house sits back into a hill, the first floor is daycare/no deck, stairs to the left go to the deck/second floor/our mudroom entrance) Can I deduct that 100%?
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Old 03-07-2017, 04:30 PM
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Default rennovations

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Originally Posted by daycarediva View Post
We are renovating a home, some of the renovations are for the child care space, which is completely separate and not used by my family at all. What about things we will be using for exclusive/100% child care use, like fridge, stove? Should I deduct them under expenses?

In addition, what about renovations NOT in the child care space, but necessary to run child care, like the plumbing expenses necessary to bring the water up to code? (UVA/UVB light, carbon, sediment filters, water softener) Time/space %?

They are requiring we get a fence for child care use, since the neighbors have a pool/unsecured. Can I deduct 100% of that?

AND, (last one, I promise!) what about renovations in non daycare areas that are REQUIRED by licensing (I can get a note) our state requires the entire home to be within code, and they are not passing my deck. I need it fixed before I can be licensed. We can't just remove it, as the deck/stairs are all one big piece and leads to the separate/front entrance to our home (hard to explain, house sits back into a hill, the first floor is daycare/no deck, stairs to the left go to the deck/second floor/our mudroom entrance) Can I deduct that 100%?
You can deduct appliances in one year. If you use them 100% for your business, deduct 100% of the cost. If you use them for business and personal purposes, use your time-space % and deduct them in one year. Deduct 100% of the fence because it was required by licensing.

The bigger issue is whether you have a repair (which can be deducted in one year) or a home improvement (which must be depreciated over 39 years. I've written about this here: http://tomcopelandblog.com/when-is-a...t-now-a-repair
http://tomcopelandblog.com/good-news-home-improvements
http://tomcopelandblog.com/how-and-w...eciate-an-item
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