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.
Again, though, if youâre renting out part of your home or if youâre using part of it for business, you can depreciate major home improvements for the portion attributed to the rental or to the home office! Donât forget thisâ¦ may not seem like much, but it can add up.