Discussion:Building an external business office near home

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Revision as of 15:36, 4 April 2009

Discussion Forum Index --> Advanced Tax Questions --> Building an external business office near home
Discussion Forum Index --> Tax Questions --> Building an external business office near home

Www.cpa1.biz (talk|edits) said:

4 April 2009
Almanacers,

A client has a C corp. He built a office for his business on the land of his principal residence. Here are my questions:

1) He probaby paid about 8 checks during 2008 to the contractor building the office. Do I need to capitalize each of those payments or just show the whole amount as an asset?

2) Is he allowed to show this as a building asset on his C corp?

Please advise.

Thanks.

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