All posts tagged home improvement

How to Revamp Your Home’s Electrical System Following a Flood

If your home has experienced a flood, there will be many things you have to worry about removing and repairing. Carpeting, drywall, and sheetrock all have to be removed because they will inevitably lead to mold buildup. In addition to these items, the electrical wiring in your home may also need a lot of work, repair, and possibly complete removal. At Rose Brothers & Sons Inc., serving Northern Kentucky and Cincinnati, we want to show you how to revamp your home’s electrical system following a flood, and help you do it in the safest way possible.

Wait to Enter

After someone is displaced by a flood, it is natural to want to go back into your home after the weather has calmed down. Avoid doing this at all costs until you are absolutely certain that all the power to your home has been shut off and everything has been checked by an electrician or utility worker. It is common knowledge that electricity and water do not mix, and you have to be especially wary about this after a flood. Once you have been given the go-ahead to reenter your home by a trained professional, do not start electrical repair by yourself if you do not have sufficient knowledge on the process. Call an electrician to stay on the safe side.

Check for Damage

Once you are able to use power again, check all of your breakers and ensure that they have not been tripped. You should also test and reset the GFCI outlets. After you have tested and checked all these areas, you may have to trace wiring back to your circuit breaker box to discover where the damage is. If your breaker was damaged an entirely new breaker may need to be installed. Most work with repair should be handled by a trained electrician, so only repair things you know you are capable of handling.

Replace and Salvage

Electronics that were exposed to a few inches of water will likely need to be replaced. Any outlets that were covered in water will also probably need to be replaced. Power strips that were plugged into outlets, or that were touched by water will need to be replaced. Anything that you believe may be salvageable needs to be removed from the water damaged area and set out to dry for a good amount of time. An electrician can also help you determine what is salvageable and what needs to be replaced after a flood.

Rose Brothers & Sons Inc.

At Rose Brothers & Sons Inc. we understand how damaging a flood can be to your home, and especially to the electrical wiring in said home. If not repaired and cared for properly, the electrical damage from a flood can be a problem for years down the road. To ensure that you are being safe and revamping your electrical system to the best it can be, Rose Brothers & Sons of Walton, Kentucky, can help. At Rose Brothers & Sons Inc., we specialize in a variety of residential electrical services, including electrical repair. With our team of certified professionals, we have maintained an NKEA license for over 20 years. In addition to this license, we have been a member of Angie’s List for many years and we are proud to have an A+ rating from the BBB. If you are ready to get your home back on track after a flood, contact us today.

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Are Electrical Repairs and Upgrades Tax Deductible?

electrical repairs and upgradesYou may be wondering if electrical repairs and upgrades are tax deductible. According to experts, if you only use your home for personal use, then the amount of the home repair is not tax deductible. You can however use the amount of the home improvement for your benefit. Here’s how it works:

Rules For Home Owners

According to IRS rules, if you made home improvements like kitchen remodeling or a room addition, you can add the cost of the expense to the base price of your home. For example, if you purchased your home for 200,000 and spent 30,000 on remodeling, then the base price of your home would go up to 230,000. When you sell your home, this would offset any capital gain you may have. In our example, if you sold your home for 250,000 then you would only have 20,000 in gains instead of 50,000. You may also qualify for exemption from those gains so it’s important to get all the facts before you file your taxes.

Rules For Home Businesses

If you use part of your home for business, the rules change and you can deduct some of the home improvements or all of them depending on where the improvement was made and how much of it benefits your business. If you remodel your kitchen or need electrical upgrades and you use your home in a business type situation, then the cost of the expense may be deducted. This is especially true if you are upgrading the electric in the part of the home that is your office. If the upgrade or electrical repair is an improvement to the entire home, the amount you can deduct is often based on the square footage of the office in your home or the portion you rent out. If however the expense is part of the office or part of the rental room, you may be able to deduct the full amount. You may also be able to depreciate the expenses similar to the way you would depreciate a building. Your accountant will be able to show you which rules apply to you and how to make the most of your tax situation.

Rules For Landlords

If you own rental property then you can claim all of your electrical repairs and upgrades as a tax deduction. There is a difference in the way you classify the expenses as an improvement or repair. If you choose to write off the expense as a repair, you can take the full amount as an expense in the year you claim it. If you classify the amount as an improvement, then you can depreciate the amount over many years.

A good tax attorney or accountant can show you the best way to write off your expenses and electrical repairs to offset your income.

Electrical repairs and Upgrades

If you need electrical repairs or upgrades, Rose Brothers and Sons Electric can help. We have experience with remodeling, electrical repairs and upgrades. Many of the home improvement you make, including electrical repairs and upgrades can affect your tax situation. When you need a good electrician in Cincinnati or Northern Kentucky, Rose Brothers and Sons Electric is the company to call. We specialize in all sorts of electrical projects from new construction to simple electrical repairs.

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