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Updated almost 9 years ago, 01/03/2016

User Stats

32
Posts
2
Votes
Muks M.
  • Collegeville, PA
2
Votes |
32
Posts

Cash Payment to Contractor

Muks M.
  • Collegeville, PA
Posted

I will be signing a contract with contractor tomorrow for home repairs prior to renting (hoping I can find tenant by Feb 1). Couple of questions:

1. Is paying by cash a good idea for ~$2000 repairs as the contractor is offering ~6% discount.

2. Can I write off these expenses later if these repairs are performed prior to renting and paid in cash ?

Leaning more in the direction of paying by cheque as this is the first time I am using this contractor (although he seems OK and the saving are just ~$150!) and keeping in mind the tax write off if expenses incurred on the property prior to renting permissible during tax filing ?

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