With tax season technically behind us, it’s a good time to start planning for the future, especially if your tax bill was higher than expected. If you start now to record all of your tax-deductible expenses for 2019, you may be able to write off more than you think. Did you know that you can even write off your yard work and lawn mowing service if you know how to do it? You have to meet some qualifications such as renting out portions of your home or property, but it can be done.
IRS Guidelines for Tax Deductions
If you own a small business, you can deduct various federal or state (as well as foreign and local) taxes that are directly related to the upkeep or maintenance of your business. Small businesses, more than ever, are now being rewarded due to new tax laws that help protect from too much regulation and increase the amount of deductions they can take.
This may include lawn services, lawn mowing, landscape and grounds upkeep, and many other services that are required to keep the appearance and condition of your yard up-to-par. As a basic rule, if you are using your property to bring in an income, you have to pay taxes on it, but you can also deduct a large portion of the investment you are putting in on your property. This way, you can get some of it back year after year.
There is one stipulation: you have to use the money you spend to care for your lawn in order to bring in rental income. This applies only to lawn care type needs, not other services rendered. You can find this information on the IRS website or call your tax attorney for more information about this deduction.