What would constitute capital expenses when running an AirBnb business apart from furniture?
Capital is the opposite of consumable. Capital expenses would be anything that has a life span and would include sheets and towels, coffee machine, TV, Roku, furniture, lock box for keys, rekeying an existing separate apartment, building a closet, lighting, dishes and silverware, decor (a word I detest) items, rewiring, etc.
Consumables are things that are, well, consumed such as toilet paper, soap, shampoo, food items, waste basket liners, vacuum bags.
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The labor involved (i.e. creating the listing on Airbnb, taking photos, etc.) could potenially be a capital expense as well. Please speak with someone who knows what they’re talking about though.
Labor is never a capital expense.
We bought a small but powerful separate AC/Heat unit to fit high on the wall of our cabana – $3000 installed. Definitely a capital expense, as was the Queen bed.