When you buy a property you can get tremendous tax savings if you make any repairs. If you have an old dam that’s been breached or broken because of a flood, you can repair and rework the land into the perfect lake, and realize tax savings. Often live water ranches will have creek beds that have become so clogged with silt and gravel that the creek looks dry. We can show you how drill test holes, clear out the bed, reshape the creek, and realize significant savings from the cost of the entire project this year.
In fact, any repair, rework, remodel, reclaiming or re-sculpting can be a deduction that year off your income. We can show you how to use this tax rule to dramatically improve your property. We are not CPAs or accountants, but we have an unlimited team of licensed tax advisors who will work with you to realize significant tax savings from improving your property.