Tax season is in full swing, and if you’re like most Americans you’re probably looking for any opportunity you can to deduct expenses from your taxable income. If you’re a homeowner, chances are you’ve invested hundreds or even thousands of dollars in the care and maintenance of your lawn over the course of the past year. Wouldn’t it be great if those expenses were tax deductible? Well, in some cases they might be!
If you’re just investing in your lawn because you want to make a positive impression on guests and neighbors, then chances are you’ll have to foot the bill yourself. If, however, your income is somehow dependent on the state of your home’s landscaping, then you might be eligible for a deduction. There are a few scenarios where this can happen.
Rental Properties
If you rent all or part of your property to tenants, then you can reasonably argue that your rental income is dependent on the appearance of the property. The amount that you’ll be able to deduct will be proportionate to the amount of the property that is occupied as a rental.
Business Operations
If you’re the sole proprietor of a business and you regularly meet with clients in a home office, you may be able to deduct at least some of your landscaping expenses from your taxable income. You may also be able to deduct the cost of maintenance and repairs to the exterior of your home. If, for example, you have your driveway repaved or your home’s siding repainted, these expenses can deducted from your taxes.
If you think you might be eligible for a tax deduction on your lawn care expenses, check out the IRS website’s Credits & Deductions page for more information!
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