June 2023

CAPITAL EXPENSE... from page 20.

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to inspect work as it is completed. Construction management costs such as these are permitted to be funded through the replacement fund. Question: Can I expense Federal income tax expense to the replacement fund? Guidance: Yes, any Federal income tax generated from replacement fund investments can be allocated to the replacement fund. As you can see, the decision on where to expense a repair is not always straight forward. Expenses often fall into a gray area where you could make an argument for either treatment. It is important to evaluate all aspects of the project to determine the appropriate classification for the expense. Doing so can be difficult without the proper qualifications. As such, it is always best to check with your professionals before making any final decisions. Ensuring that your expens es are properly categorized will provide an immense benefit to your board with respect toward financial planning. They will have a much better understanding of the ongoing maintenance needed on an annual basis, which will provide them with reliable support when preparing the annual budget. In addition, it will also help to ensure that replacement funds are available when the need for capital projects arises, which can help reduce the likelihood of additional assessments and loans. n

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Lawn Maintenance • Weekly Services • Fertilization • IPM Programs • Turf Renovation & Seeding • Turf Aeration & Composting

NJ Irrigation License # 0015708 NJ Pesticide License #94290A NJ Home Improvement Contract License 13VH04474200 Tree Care Services • Site Assessment • Flush Cutting • Stump Grinding • Pruning Tree Care Services • Site Assessment • Flush Cutting • Stump Grinding • Pruning Irrigation • Activation andAnalysis Reports •Complete Maintenance and Repairs •Member IrrigationAssociation of NJ

P: 609.409.2701 | @growingconcernnj www.growing-concern.com Landscaping • Landscape Design & Installation • Plant Replacement Program • Shrub Care • Drainage Solutions • Winter Pruning

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• Activation and Analysis Reports • Complete Maintenance and Repairs • Member Irrigation Association of NJ

Snow Removal • Clearing • De-icing Applications • Service Recommendations & Bulletins

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NJ Irrigation License #0015708 NJ Pesticide License #94290A NJ Home Improvement Contract License 13VH04474200 NJ Licensed Tree Care Operator #NJTC782366 P: 609.409.2701 @growingconcernnj www.growing-concern.com

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JUNE 2023