How should I categorize a Zelle payment that I am making to pay a remodeling contractor?
Should it be under Capital Expenses and Remodeling?
Your help is appreciated!
@bicsaz Thanks for your question. Stessa is built to be flexible enough to handle different income and expense situations, but we do not provide specific tax advice. You’ll want to check with your CPA for more information about how to categorize these specific remodeling expenses.
That said, significant renovations are typically treated as capital expenses and those expenses would of course include payments made to contractors for related labor and materials.