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Commercial Real Estate Investment Question
Posted on 2/25/14 at 12:55 pm
Posted on 2/25/14 at 12:55 pm
Can anyone tell me what can I do with maintenance on a building as far as expensing it? I'm not sure but I believe it can be used. Say refurbishing rather than replacing a roof?
I am just having a mind loss right now and can't remember but I do know I spent $75k on roof work this year not replacing but recovering.
Anyone?
I am just having a mind loss right now and can't remember but I do know I spent $75k on roof work this year not replacing but recovering.
Anyone?
3
Posted on 2/25/14 at 1:06 pm to Martini
Are you asking about expensing it vs capitalizing it?
Posted on 2/25/14 at 1:09 pm to Martini
If it is a flat roof as is mine, then it more problematic than most. The roof has leaks that pop up and because it shares load bearing walls with two other buildings( in strip mall shopping center) patching to satisfaction has been a problem. Right now I'm investigating elastomeric and rubberized roof coatings which I hope will rectify, but the single most important facet of dealing with any roofing contractor in my experience is getting a guarantee to stand behind their work. It has been an expensive proposition.
ETA- Is your accountant saying this won't be able to be expensed? Any improvements or maintenance should be able to be included in operating costs.
ETA- Is your accountant saying this won't be able to be expensed? Any improvements or maintenance should be able to be included in operating costs.
This post was edited on 2/25/14 at 1:12 pm
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