Most of our clients don’t realize that anything that is man-made is a depreciable asset on a property. So, for instance, if you buy a ranch that has 20 miles of game fence, or 40 miles of road, or 30 miles of underground waterlines, or 20 miles of overhead electrical lines, they are all depreciable assets. If you drill a water well you can depreciate it…if you add a lake or stock tank, you can depreciate it…if you build a barn, you can depreciate it…if you add a ranch office building, well, you get the idea.
Developing your property can be one of the most exciting and rewarding aspects of ranch ownership. Jeff particularly enjoys developing the water; going in and shaping lakes, building creek dams, designing fishing holes, etc. But, whether it’s water, roads, fencing, homes or other structures, the team at Texas Best Ranches can provide hands-on guidance and advice on the construction, and connect you with one of our unlimited team of licensed tax advisors to work with you on the taxes. We can show you how to build the perfect ranch of your dreams, and get you a licensed CPA to help you depreciate the improvements!