Does it have to be wrote off on my 2011 taxes since it's being done this month?

I didn't do the farmer's market this year, but do plan to start a winter's market in January, so can the greenhouse be wrote off next year or does it have to be on the 2011's?

If it does need to be on this year's that is fine. I will just have to get my business license info in order because I haven't purchased anything else or done anything this year.

Hope this helps for someone to answer my question.

Thanks again!!

If it is being used for business purposes then it can be written off in the year it is put in service.

It should be taken on the year that you paid for it, if you are using 'cash' basis. I believe.

You can have expenses before you have sales. Especially getting started so late in the year.

Talk to your tax professional, each person's taxes can be different.

Of course, keep all receipts for EVERYTHING involved with building the greenhouse.

Marla

i'm a CPA and i agree with marla's advice-find a local CPA who has experience with small business and small farm taxes.

That's what I will do. Thanks!!

I'm not a CPA, never took the course for it. Just been in business for myself after getting Accounting degree and specializing in taxes in the past, with all those upkeeping courses. LOL!

Marla