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View Full Version : Can I Write a House Off?????



kefloyd1980
05-09-2006, 05:43 PM
I am looking to buy a house which includes 12+- acres and a 5,000sf building that I will eventually use once I start up my business. My question is how can I write the building off once I start my business?

pandandesign
01-19-2014, 12:23 AM
I haven't heard that you can write this kind of spending off because it is part of the property and I don't think you can do that. I still don't understand the question, however, this is a big one and I think you should talk to your accountant about this before you decide to do anything about writing off this particular spending.

delusional
01-19-2014, 04:10 AM
If you are buying it now and don't have your business started yet, no, definitely not. You can't go back on purchases and write them off.
I don't know if you can ever write off land.
What you probably can do is write off the building (if you need the entire 5000sf, else just a portion).

Like mentioned before, ask an accountant, they know all the laws about this. All I have is my experience as an entrepreneur.

cpefley
01-19-2014, 11:09 AM
I don't think you can write the whole house off unless you use part of it for your business. You can write off the area that you use for a home based business, but I seriously doubt you can write off the whole house. The building you could probably write off once you've started your business. Do you have a tax professional that you can ask? The IRS also gives tax advice.

Chris_Tax
12-15-2018, 06:18 PM
You can basically allocate space for your business and write this off.

sparo1
12-16-2018, 04:49 AM
If you are buying it now and don't have your business started yet, no, definitely not. You can't go back on purchases and write them off.
I don't know if you can ever write off land.
What you probably can do is write off the building (if you need the entire 5000sf, else just a portion).

Like mentioned before, ask an accountant, they know all the laws about this. All I have is my experience as an entrepreneur.
On the off chance that you are getting it now and don't have your business begun yet, no, unquestionably not. You can't backpedal on buys and discount them.

I don't know whether you can ever discount arrive.

What you presumably can do is discount the building (in the event that you require the whole 5000sf, else only a bit).

Like referenced previously, ask a bookkeeper, they know every one of the laws about this. The sum total of what I have is my experience as a business visionary.

sparo1
12-16-2018, 04:50 AM
On the off chance that you are getting it now and don't have your business begun yet, no, unquestionably not. You can't backpedal on buys and discount them.

I don't know whether you can ever discount arrive.

What you presumably can do is discount the building (in the event that you require the whole 5000sf, else only a bit).

Like referenced previously, ask a bookkeeper, they know every one of the laws about this. The sum total of what I have is my experience as a business visionary.

sparo1
12-16-2018, 04:53 AM
On the off chance that you are getting it now and don't have your business begun yet, no, unquestionably not. You can't backpedal on buys and discount them.

I don't know whether you can ever discount arrive.

What you presumably can do is discount the building (in the event that you require the whole 5000sf, else only a bit).

Like referenced previously, ask a bookkeeper, they know every one of the laws about this. The sum total of what I have is my experience as a business visionary. https://subwaysurfers.vip/ , https://psiphon.vip/ , https://hillclimbracing.vip/

FlyCarp
03-21-2019, 04:25 AM
Hey, I guess this place has gone quiet... But still, hear me out. My old neighbours sold their house and shortly new neighbours moved in. Turns out they wanted to open up a dental clinic at the building. It was all good and what not but I personally think they needed some serious decoration to do. They had pretty bad taste in the decor aspect of the house. Shame really, I'm not that bright at ideas and would fail to help them.

BrickBuild
03-21-2019, 04:51 AM
Just going to give you some advice on what to do after they get the new building. This is something I didn't really pay much attention too. The interior design. I can help you with making your building look fantastic on the inside. My mate bought himself some property and I remember the design inside was mind-blowing! He told me he picked up some ideas thanks to a certain place. They have everything, from bathrooms and bedrooms to gardens accessories!

BrickBuild
03-26-2019, 09:35 AM
Hey, I guess this place has gone quiet... But still, hear me out. My old neighbours sold their house and shortly new neighbours moved in. Turns out they wanted to open up a dental clinic at the building. It was all good and what not but I personally think they needed some serious decoration to do. They had pretty bad taste in the decor aspect of the house. Shame really, I'm not that bright at ideas and would fail to help them.

Just going to give you some advice on what to do after you get the new building. This is something I didn't really pay much attention too. The interior design. I can help you with making your building look fantastic on the inside. My mate bought himself some property and I remember the design inside was mind-blowing! He told me he picked up some ideas thanks to https://welcoming-house.com/. They have everything, from bathrooms and bedrooms to gardens accessories!

JavieCoentr
06-07-2019, 05:10 AM
I did that once, I wrote the house off, thanks to a friend of mine. I asked him for help he did everything and I had no problems for a period of time. About a year ago I got some problems with law, like that was illegal and I moved in www.theflorenceresidence.com.sg (https://www.theflorenceresidence.com.sg) I started my business here from nothing, and even from 2 rooms out of four I made a little office. The point is I had problems after about 4 years and I have been obliged to leave. Now a have a huge apartment and I am happy that my business goes on.

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01-20-2021, 08:38 AM
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06-22-2021, 02:42 AM
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