When I had my yard landscaped I used a local company. Because shrubs and plants were put in it became a "Capital Improvement". This is in New York.
My B&B is not open yet but I have always been a 3 family home.
The company that did the work had to report it to the government on a capital improvement form.
Because you did the work yourself, hats off to ya, it may not be deductible as such.
Consult with your accountant as others have suggested..
Colleen848 said:
When I had my yard landscaped I used a local company. Because shrubs and plants were put in it became a "Capital Improvement". This is in New York.
My B&B is not open yet but I have always been a 3 family home.
The company that did the work had to report it to the government on a capital improvement form.
Because you did the work yourself, hats off to ya, it may not be deductible as such.
Consult with your accountant as others have suggested.
Each accountant will vary I am sure. But I was told that NO improvements in landscaping no matter who does it was deductable - but I'm talking federal, not state. That does not mean there are more ways than one to skin a horse. The accountant who was speaking was known for not having any creativity in seeking more than one way to work the numbers.
RIki
RIki
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The KEY to it being a Capital Improvement was based on the fact that I had shrubs, etc. planted. If I had just had the old overgrown, semi-dead bushes removed and paving stones, mulch, it would not have been considered a Capital Improvement.
Just a quirk in the law.
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Colleen848 said:
The KEY to it being a Capital Improvement was based on the fact that I had shrubs, etc. planted. If I had just had the old overgrown, semi-dead bushes removed and paving stones, mulch, it would not have been considered a Capital Improvement.
Just a quirk in the law.
This is why we always tell people to hire a tax accountant or a tax lawyer
in their own area. Given all the different counties, states, countries involved on this forum no one here should even attempt to help someone with a tax question. Even minor things, like a shrub for Pete's sake, can be different in every locale.
Here- it's the same thing as everyone else is saying- no can do on writing off landscaping.
Now, if you didn't LIVE at the apt house, that's different. We all live at our businesses. We can't write off landscaping our own yards because we enjoy the benefit of it.
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You are not listening. I DO LIVE HERE.
I have an accountant who files my taxes on the long form which I assume will be done also when I open under a business form as I will be a DBA. She has me saving all of my receipts until I open as they are not pertinent right now.
Even though I am not a B&B, this is still considered a BUSINESS. I know you may be offended or perhaps not.
There are people here who comment on being a property owner and renting out is somehow inferior to your commitment. It is not. It is just different. Maybe if I were an absentee landlord I would deserve the attitude.
As I have said before I do not have to prepare their breakfast, make their beds and offer conceirge services to them. However, I do not have the opportunity to think okay, they are PITA'S but they will be gone in a couple of days.
No! I am stuck with them until they decide to move or I give them a 30 day notice. That is why I show my apartments, take applications and then decide. I don't care how much money they want to push on me, not impressed. I live here too and need to be able to feel comfortable with/ who lives here.
I am approx. 1/3 mile off the main road (that's the driveway length) so in the winter when the golfcourse is closed there are very few inhabitants here. When the power or something goes out, we all have to work together.
I look forward to opening a small B&B and I do not veiw it as a 18 hour a day job. If I am working out in the yard I appreciate the privelege of being able to do so. If I am baking, I find it relaxing.
I guess it's all in the way you see it.
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