Barn driveway a tax deduction for self employed?

[mx500]

Looking at irs.gov, you may be able to take a depreciation or deduction on your driveway if you're self employed. Has anybody done this? I need a deduction and a separate drive...hmmm

 

[mitusa]

I wouldn't think so.....unless your driveway also goes to your shop (which is used in your business). jmo

 

[jomobco]

Everything is a lot easier when it's detached. Like others have said - for business should fly.

 

[mx500]

ya, ive got a detached barn with an office. planning on putting in a separate drive to the barn, from the road.

 

[Colonial Cobra]

Check with a CPA first. And don't do it if you ever plan to move. Pretty sure you'll get nailed with capitol gains on any amount depreciated when you sell.

 

[Architorture]

How do you claim your barn/office now? I've always understood in my own self employment tax situation that claiming home office stuff that isn't totally legit is just asking for a nasty audit

 

[upndown]

+1 Make sure everything else you deduct is on the up and up, just in case they come looking!

 

[Flexia]

My CPA said asked me about a driveway to my garage. He is planning on writing it off when I do it

 

[Nighttrain]

With our side business we do not claim the shop or offices as colonial mentioned about capital gains. We do though buy several truck loads of gravel from time to time for driveway maintenance, we have an 1800" driveway and our company truck loaded is 40k lbs. I justify that that.

 

[nehog]

Please consult with a tax expert before doing this. Two things come to mind: this kind of deduction can raise a red flag and trigger an audit. The second is that you need to make sure that when you sell the property that this doesn't come back and bite you. Selling your primary residence is tax free, but when you deduct part of the property as business then that part may not be classified the same.

Be careful: make sure the reward is worth the risks and costs long term. Consult a skilled tax consultant.

 

[mx500]

Good point nehog. We've got an appt with our CPA soon. Scroll down to capital expenses vs deductions.

http://www.irs.gov/publications/p535/ch01.html#en_US_2013_publink1000208608