It can be financially tough to begin more expensive home improvements or landscape design projects that you want to get started on. Your tax return is a great opportunity to tackle home improvements and landscape design projects that you’ve been wanting to complete. Many of these improvements will enhance your experience in your own home, increase the value of your home, and may even be tax deductible depending on the type of projects you decide on.
If you have lived in your current home for two of the last five years, you’re eligible for tax deductions when you sell. You can get up to $500,000 of your profit tax-free ($250,000 if single or married filing separately). But if you do a remodel that adds value to your home, the remodeling cost can be deducted from your capital gains. […]
Document all your expenses. No one from the IRS is going to come over to admire your finished basement so keep your receipts. You can only deduct expenses for which you have a record. Your improvements affect the home’s adjusted basis, so make sure you keep the records on hand for at least three years after you sell.
Using your tax return to invest in your home is a great choice. It’s a decision that creates immediate and prolonged value. Folsom Ready Mix can help you to finish the home improvements on your list or create the outdoor living space you’ve been dreaming about.
We’d love to help you complete your landscape design projects in any number of ways. From major installations to DIY projects, no project is too big or too small. We have been providing concrete to contractors for construction and decorative projects in the Sacramento, Placer and El Dorado Counties and the Redding Area since 1999. We can also recommend concrete or landscape contractors for your next home improvement or landscape project.
Just a few examples of how we can help personalize your outdoor living space:
- Pool Decks
- Garden Path
- Outdoor Kitchens
- Driveway Liners
- Retaining Walls
Using your tax return to improve the value of your home through home improvement and landscaping projects is a great option. Home improvements may not be something that we set a budget aside for from month to month. When you use your tax return to improve your home, you’re investing in your own future.
Contact us at 916-851-8300 or firstname.lastname@example.org to get started today!