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  • Repair Vs. Replacement

    ‍Many people ask “is replacing a fence tax deductible?” For tax purposes, it matters what type of work you’re doing to your fence. The IRS differentiates between a repair and an improvement (or new fence). If you purchase a home with an existing fence in disrepair, you can’t add the cost of fixing the fence to your tax basis. In this case, repairing it is considered regular maintenance of the home.

    When it comes to repairing fence damage from the wind or one that had significant rotting, repairing these instances is not considered an improvement. However, if you replace an existing fence with a new fence that is different, this constitutes an improvement. You may need a full replacement due to damage or due to use case (for example, if you need to build your fence to a new fence height for privacy.)

  • DIY Can Lower Your Deduction

    In a normal case, you can deduct both the cost of the labor and the cost of the materials for your new fence. However, you can’t deduct the cost of your own labor- which means if you choose to DIY your fence you could miss out on some of the tax savings. There are also several other reasons why a DIY fence is a bad idea, so consider all factors before endeavoring to install a new fence yourself. 

    A quality fence is a wise investment for many reasons- including the potential to save money on your taxes. Whether the benefits are seen immediately or further in the future, all of these considerations are good to keep in mind. Consult with a tax professional before you embark on a project as potential tax savings. You can read more about tax deductions for home projects on the IRS website. Looking for more tax savings with your home improvement projects? Discover how your new driveway can be tax deductible.

  • this constitutes an improvement

    Many people ask “is replacing a fence tax deductible?” For tax purposes, it matters what type of work you’re doing to your fence. The IRS differentiates between a repair and an improvement (or new fence). If you purchase a home with an existing fence in disrepair, you can’t add the cost of fixing the fence to your tax basis. In this case, repairing it is considered regular maintenance of the home.

    When it comes to repairing fence damage from the wind or one that had significant rotting, repairing these instances is not considered an improvement. However, if you replace an existing fence with a new fence that is different, this constitutes an improvement. You may need a full replacement due to damage or due to use case (for example, if you need to build your fence to a new fence height for privacy.)

  • Rental Property Rules

    Home improvements to your rental property can often count as a tax write-off. Similar to the rules for deductible home improvements to a business property, improvements made to your rental property would need to be necessary and ordinary to keep the property in good shape and liveable for tenants. 

    People who use a portion of their property or home as a rental can still deduct some of the expense. In this case, the homeowner can calculate the percentage of the home that is rented out and then use that percentage for the amount of home improvement expenses that would be deductible. As with business properties, improvements to rental properties are also typically deductible on the taxes filed for the year the project is completed.

  • Business Property Rules for Tax Deductions

    If you own a business, you’re likely familiar with the rules for business expense deductions. Like other business expenses, your new fence needs to be ordinary and necessary to the business in order to classify as a legitimate deduction. 

    There are several reasons why a new fence would be necessary for your business, however. For example, an old fence that poses a safety hazard would need to be replaced for the sake of your business. A privacy fence may be necessary, depending on the nature of your business. A chain-link fence may be necessary to clearly mark your business property line and keep out intruders, etc. 

    Improvements to your business property are typically deductible on the taxes filed for the year that the project is completed. 

  • Primary Residence Rules for Tax Deductions

    If you get a new fence installed at a home that is used purely as your primary residence, you won’t be able to deduct the cost on your taxes for that same tax year. However, that doesn’t mean you won’t benefit from the investment.

    By installing a new fence, you increase the “tax basis” of your property. Your tax basis includes the amount you’ve invested in your property over time. This means, if you were to sell that property, you’d be able to deduct the cost of your home improvements in order to lower the amount that you’re subject to pay in taxes after the sale, as your total profit would be lower.

    Here’s an example: You bought your home for “$300,000” and then spent “$50,000” on various home improvements – including installing a new fence. You then sell your home for “$400,000.” Rather than paying taxes on the full “$400,000” sale price, you can deduct the tax basis (the original cost of your home + the cost of the home improvements you invested in.) “$400,000” minus a tax basis of “$350,000” leaves you with just “$50,000” profit subject to tax.

    For this reason, you can think of installing a new fence at your home as a long-term investment because it can help you save money down the line. 

  • How Your Fence Can Be Tax Deductible

    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.

  • This fence looks the same on both sides

    Aluminum fences are another low maintenance alternative, though they’re also more expensive upfront. Privacy is also a possible downside as aluminum fences generally use open designs that allow for space between the slats. However, aluminum fences are tough and resistant to the elements, and will last at least 20-30 years. You won’t have to worry about rust and it’s easy to clean these fences. For someone who’s looking for a modern style and low upkeep, aluminum fences could be a good choice.

    Designs

    Dog-Eared Fence: This is a classic fence design that uses non overlapping boards that have curved tops. Because it’s a basic design, it’s typically not as costly as other options.

    Good Neighbor Fence: This fence looks the same on both sides. Rather than having posts on stringers on one side and the panels on the other, it uses overlapping boards to create an identical look on both sides. It is typically a good choice if you are sharing costs with your neighbor.

  • Treated vs. Untreated Wood

    Some types of wood can have their lifespans lengthened by treating them with certain chemical compounds. This is a technique known as “pressure treating.” The chemical compounds help the wood last longer by making it resistant to rot, decay, and termite infestation. With a properly installed fence, there generally isn’t an issue of the chemical compounds leaching into the ground, in contrast to a raised flowerbed which may have the wood directly in the ground. If you don’t like the idea of chemical compounds being used on your wood, you can choose wood like cedar and redwood which are naturally resistant to rot, insects, and moisture.

    If you’re interested in more in-depth information on wood fence pricing, check out our guide to wood fence costs.

    Vinyl fences

    Vinyl fences are a good alternative for those who don’t want to worry about regular maintenance and some of the downsides of a wooden fence. However, vinyl does lack the natural appeal of a wooden fence. Furthermore, they’re pricier upfront in comparison to a wooden fence. Overall, vinyl is a good choice for those who don’t mind not having real wood and want something that has a general low upkeep and long lifespan (at least 20 years in ideal conditions). Keep in mind that while vinyl fences are less likely to warp, it’s still a possibility when exposed to extreme elements like excess humidity or cold.

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  • The Pros and Cons of Different Fence Materials

    Getting a new fence can be a daunting challenge considering all of the different types of materials and styles that you can choose from.

    The climate of where you live and any local regulations will certainly impact what you choose. But ultimately, you’ll want something that fits your needs, budget, and of course, looks appealing.

    Materials

    Wooden Fences

    Wood is a classic material that’s great for people who want a natural looking fence. Though there are some common pitfalls such as rot, warping, and termites, a professional installation with regular maintenance can help prevent these problems and extend the life of your fence. The lifespan of your fence also depends of what kind of wood you choose.

    Here are some common choices: 

    Cedar 

    Cedar is one of the most durable materials you can choose. Typically, a well maintained cedar fence (specifically red cedar) can last up to 15-20 years. Because of the oils naturally occurring within the wood, cedar is resistant to warping, rot, and termite infestation.