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.
You can depreciate many different kinds of property, for example, machinery, buildings, vehicles, patents, copyrights, furniture, and equipment. You can depreciate property only if it meets all the following requirements. â¢ It must be used in business or held to produce in-come. â¢ It must be expected to last more than one year. In