Painting a house can be expensive, especially when you are painting an entire home. Whether it’s an interior or exterior job, these costs can be discouraging and hold some back from getting their paint done, even when it’s much needed. Between the cost of paint and the actual work of getting the painting done, add in any necessary repairs on the walls or ceiling and you could get overwhelmed. This can lead some to wonder if painting as a home improvements can be deducted off of their taxes at the end of the year. It’s a fair question, as certain home improvements are.
But the sad truth is that this cost isn’t a deductible cost according to the IRS tax code. There is one very specific situation that does allow for you to claim house painting on your taxes but there are quite a few requirements. The first is that your home needs to be impacted by a disaster such as a fire or hurricane. On top of that, in order to claim the credit you need to sell the home as well because it will count as part of the original value of the home. As you can see, there really isn’t a feasible way to claim it on your taxes, but there are other ways to save money when you paint your home.
Claiming Other Home Improvements
While painting a home is quite difficult to claim on your taxes, other home improvement projects are! This part of the tax code is called “Capital Improvements”. These are additions or alteration to a property that either substantially adds value or prolongs the useful life of the house, becomes part of the house in such a way that would cause material damage if it were removed, or intended to be a permanent installation. If by chance your house painting plan is just one part of a larger home improvement project, then you can save money elsewhere.
Doing Repairs on Your Own
Painters often charge customers some amount of fees for fixing holes, dents or scratches in a wall before it’s painted. This is all quite common and reasonable because paint won’t stick as well to a surface that isn’t smooth. That being said, if you do have a few of these blemishes around your home, fixing them up before you hire a professional painter can save you some money.
Use an Affordable House Painter
If you’re looking to save money with your next interior or exterior home painting, contact Rob Ross Painting! We are located in Gloucester Massachusetts and serve the greater Boston area! Give us a call at 978-265-1567 or contact us here for more information.