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Author Topic: capitol improvements  (Read 3585 times)

SDguy

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capitol improvements
« 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

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capitol improvements
« on: October 03, 2005, 02:36:46 pm »

drprwnap

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Re: capitol improvements
« Reply #1 on: October 03, 2005, 03:27:58 pm »
HUH??????????? Sorry, this post makes no sense (at least to me!)  :D

drprwnap  8)
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Mendocino101

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Re: capitol improvements
« Reply #2 on: October 03, 2005, 03:44:56 pm »
Quote
HUH??????????? Sorry, this post makes no sense (at least to me!)  :D

drprwnap  8)

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

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Re: capitol improvements
« Reply #3 on: October 03, 2005, 04:21:52 pm »
wow guys are those some great responses

Mendocino101

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Re: capitol improvements
« 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 .....
« Last Edit: October 03, 2005, 04:39:39 pm by Mendocino101 »

drprwnap

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Re: capitol improvements
« 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.  :D

drprwnap  8)
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orlandoguy

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Re: capitol improvements
« 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

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Re: capitol improvements
« Reply #7 on: October 03, 2005, 10:39:59 pm »
LOL  ;D
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hottub.pool_boy

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Re: capitol improvements
« 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.  
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SDguy

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Re: capitol improvements
« 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

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Re: capitol improvements
« 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.
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tootsie

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Re: capitol improvements
« 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

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Re: capitol improvements
« 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

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Re: capitol improvements
« 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

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Re: capitol improvements
« Reply #14 on: October 04, 2005, 11:38:25 pm »
Quote
good try brook,  but replacement and repair are not part of the capital improvement.

What about an addition or new screened porch or deck?
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Re: capitol improvements
« Reply #14 on: October 04, 2005, 11:38:25 pm »

 

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