Is Your Landscaping Tax Deductible?

Tax time is generally everyone’s favorite time of the year!  Running down the checklist; acquiring W-2s, various 1099 forms, income from state and local income tax refunds, business income, home business size and expenses, IRA/pensions information and the list goes on and on.

Facetiously I am sure you agree.  When you become a homeowner the more savvy you are about tax codes and potential deductions the more money you can retain for increasing your property valve.

Some homeowners spend thousands of dollars yearly to create a refined lawn and exquisite landscape scenery.  If you are a business owner and use your home to generate income you are in luck.  The expenses inccurred in maintaining your property can be tax deductible.  Another deduction would be to treat the person who you hire to maintain your lawn as an employee which in turn his wages become tax deductible and part of the tax burden is shifted.  If you are a sole proprietor business owner who meet clients regularly in your home office, driveway repair can possibly be added as an additional deduction.

Another landscape tax exemption is for swimming pools.  Yes, swimming pools provided you have a medical condition, some cases even arthritis, that requires swimming pool exercise to improve your health or as part of a required regimen.  The incurred expenses might be eligible for tax deduction.  If your pool will be used for recreational purposes the deduction does not apply.

Proper records must be maintained for all professional lawns care services paid out in any form to include receipts, invoice along with a cancelled checks and/or evidence of credit card receipts.  Make sure and keep all records that support items and tax returns for at least four years.

For the best methods and to optimize your landscape tax deduction always contact a Certified Tax Accountant (CPA).

If you are in the market to increase your property value and aesthetics, with or without the possible tax deductions, contact our Designscapes Team at info@designscapes.com for further assistance.