Tag Archives: only

When doing taxes can you deduct home improvement expenses every year or only the year you sell?

Question by Erin: When doing taxes can you deduct home improvement expenses every year or only the year you sell?
I was told that you could deduct home improvement expenses until the year you sold your house. Is this true?

Best answer:

Answer by dustoff
You don’t “deduct” them at all. When you sell, the cost of improvements can be used to adjust your acquisition cost basis – which will decrease any capital gain tax due.

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Contractor Only Caulked Cracks?

Question by Tracy A: Contractor Only Caulked Cracks?
I have rental property and some of the walls were separating from the ceiling a little bit. The kitchen cabinets were separating about an inch or two at the ceiling. The contractor caulked all of it, but it doesn’t look that great to me. You can tell it is a patch job and I don’t like it. What is it he should have done to make it blend in and not look like a patch job? It is more white then the color of the walls & the ceiling.
I owned the property and my contractor did a lousy job. I was told you are supppose to mud it in and paint it or tape & float it & paint..

Best answer:

Answer by glenn
If you are saying that you are a renter- then the contractor does not answer to you. If the owner is ok with the job that is all the contractor had to do.

If you own the rental house then you hired the contractor and I would not pay him until he completes the job as agreed.

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what i need to have to work as home improvement contractor,what type of license needed to do only capentry?

Question by gaberman1: what i need to have to work as home improvement contractor,what type of license needed to do only capentry?
i am trying to for LLC entity,i already get the form,i registered as home improvement contractor,the registeration form i receive ,but my confusion is i do not find that so called license, i intend to work only on carpentry
the question is do i need license to do tis work or the registeration and the insurance are all what i need
is there any one who knows, to solve my confusion

Best answer:

Answer by dragonfire
yes
your state that you live in should have the license you need to apply for

in CA, carpentry has it own license and is split by categories

B ( general ) and C class ( C5 and C6 are carpentry and millwork )

the LLC is simple to set up your company as a corporation for legal protection, and you fill in as such when you apply for the license

What do you think? Answer below!