Posts tagged as:

business expense

More Mold Tax Tips

February 26, 2010

This tip might come in handy if you are renting or otherwise do not own your mold-infested living space. How I understand it is that if you are diagnosed with a mold related illness, then removal of the mold would be necessary to relieve the diagnosed condition. This is similar to lowering cabinets and light switches and building ramps to accommodate someone in a wheelchair. The primary purpose of these costs is to improve a medical condition; therefore, they are considered medical expenses.

Read the full article →

Tax Deductible Mold

January 27, 2010

The new ruling includes deductibles for the remediation costs incurred, the repair costs, and the replacement materials costs. This means, if you are careful about it you can have the tax benefit work towards your advantage.

Read the full article →