Author Topic: capitol improvements (Read 3941 times)

SDguy · « **on:** October 03, 2005, 02:36:46 pm »

Funny thing, last year I was told by my boss that if I received a capitol improvement certificate from the buyer, or some sort of tax free eligibilty-it was all good, no tax.

However I got told today that this one was no good, because frankly it wasn't a capitol improvement?!

So he jetted out the door with a bogus explanation
Can any dealers or owners clarify this up for me?
Thanks,
Joe

Hot Tub Forum · « **on:** October 03, 2005, 02:36:46 pm »

drprwnap · « **Reply #1 on:** October 03, 2005, 03:27:58 pm »

HUH?

? Sorry, this post makes no sense (at least to me!)

drprwnap

Mendocino101 · « **Reply #2 on:** October 03, 2005, 03:44:56 pm »

Quote

HUH?? Sorry, this post makes no sense (at least to me!) Â

drprwnap Â

I was at Disneyland this weekend, what fun, felt like a kid again.....I hope this helps.....I guess it makes about as much sense as did the original post....

SDguy · « **Reply #3 on:** October 03, 2005, 04:21:52 pm »

wow guys are those some great responses

Mendocino101 · « **Reply #4 on:** October 03, 2005, 04:39:09 pm »

I think the point is what are you talking about.....You seem to have posted something in the middle and the end but left out the beginning .....

drprwnap · « **Reply #5 on:** October 03, 2005, 07:20:25 pm »

Quote

wow guys are those some great responses

I wasn't trying to be a smart *ss, but in order to offer some help we need to know what you are talking about.

drprwnap

orlandoguy · « **Reply #6 on:** October 03, 2005, 10:25:39 pm »

I think he might be hinting at a tax break for a spa needed for medical purposes and paying for it with an equity line for home improvements? Either that or he might be suffering from ADD and speaking in tounges.

drprwnap · « **Reply #7 on:** October 03, 2005, 10:39:59 pm »

LOL

hottub.pool_boy · « **Reply #8 on:** October 03, 2005, 10:43:20 pm »

check with your business' accountant. He'll/She'll give you the straight skinny.

However, just so you know, the accountant's consultation usually is not free.

SDguy · « **Reply #9 on:** October 04, 2005, 10:22:07 am »

I was talking about if a portable spa in certain installs can be a capitol improvement. But I've gotten my answers already.

Anything portable or considerred a retail product is not a capitol improvement. Pools and gunite spas are capitol improvements, thus no tax.

My customer was installing his product in a deck, so his contractor thought he would be able to get around the tax. Also, while the customer was shopping around, a competitor was boasting no tax, and that was explanation he got.

well, thanks anyway

cappykat · « **Reply #10 on:** October 04, 2005, 11:00:03 am »

Not to criticize...but should have just said it that way in the beginning. Now we understand.

tootsie · « **Reply #11 on:** October 04, 2005, 12:12:13 pm »

capital improvements are permanently affixed to real property, there might be a fine line if a deck is built that the spa is going into, not sitting on top, because to remove it would cause material damage to property, but personally i would rather pay sales tax than pay property tax on that addition.

Brookenstein · « **Reply #12 on:** October 04, 2005, 12:47:44 pm »

Does this mean if I put carpet, pergo, tile, etc. down or remodel my kitchen I could have subtracted the sales tax when I do my taxes?

Uh, my husbands an accountant and he didnt do that for our taxes.

tootsie · « **Reply #13 on:** October 04, 2005, 11:20:08 pm »

good try brook, but replacement and repair are not part of the capital improvement.

bulmer4nc · « **Reply #14 on:** October 04, 2005, 11:38:25 pm »

Quote

good try brook, Â but replacement and repair are not part of the capital improvement.

What about an addition or new screened porch or deck?

Hot Tub Forum · « **Reply #14 on:** October 04, 2005, 11:38:25 pm »

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