It’s tax season- and that means there’s one thing on everyone’s minds: potential deductions. Did you know that your new fence has the potential to save you money on your taxes?
For tax purposes, ‘home improvement’ includes any work done that adds substantial value to your home, increases its usefulness or adapts it to new uses. Examples include room additions, new bathrooms, new roofs, plumbing upgrades and- yes- new fencing! All of these things have the potential to save you money on your taxes- either in the short-term or long-term.
Here’s a few tips to keep in mind when it comes to possible deductions from your new fence.
