1 Exterior paint averages $25-$40 a gallon, and a 3,000-square-foot home takes 15 or more gallons of paint, or $375-$600 just for the paint.
Construction-In-Process (CIP) Assets. A construction-in-process (CIP) asset is an asset you construct over a period of time. Create and maintain your CIP assets as you spend money for raw materials and labor to construct them. Since a CIP asset is not yet in use, it does not depreciate and is only in the corporate book.
For more information, refer to Publication 946, How to Depreciate Property. The kinds of property that you can depreciate include machinery, equipment, buildings, vehicles, and furniture. You cannot claim depreciation on property held for personal purposes.If you use property, such as a car, for both business or investment and personal purposes, you can depreciate only the business or investment use portion. Land is never depreciable, although buildings and certain land improvements may be.or more information, refer to Publication 946, How to Depreciate Property. The kinds of property that you can depreciate include machinery, equipment, buildings, vehicles, and furniture. You cannot claim depreciation on property held for personal purposes.