Land Improvement Accounting Services
Our land improvement accounting services are tailored to Edmonton & Calgary businesses investing in physical property upgrades. We help determine what can be capitalized, how to categorize it, and how to reflect those improvements in your financials.
This includes support for tax filings, asset schedules, and audit preparation. If you’re enhancing curb appeal or upgrading infrastructure, we’ll help you handle it by the book.
Capitalization of Costs
We identify which project expenses qualify as capital improvements and add long-term value to your property. These costs are added to your fixed asset schedule and reported in accordance with CRA standards.
Depreciation of Improvements
Unlike land itself, improvements lose value over time. We apply appropriate depreciation methods based on the asset type, expected life, and capital cost class, helping you recover your investment gradually and accurately.
Separate Asset Classification
Each type of land improvement is classified independently for tracking and tax purposes. This ensures clean asset management and helps avoid confusion when selling property or reporting year-end figures.
Firm Commitment
At Liu & Associates, we know land improvements are more than one-time expenses. They’re investments that affect your financial statements for years.
Our team is committed to treating those investments with the precision they deserve. We stay current with CRA rules and tax strategies that impact capital improvements. That means fewer surprises, cleaner records, and better long-term outcomes for your business.
Why Choose Liu & Associates
Land improvements aren’t immediately deductible, but we help you recover their value over time through proper CCA treatment.
Our team classifies each improvement into the right capital cost class to maximize your deductions without triggering penalties. We also keep track of timing and partial-year claims so you can make the most of your depreciation schedule. It’s about turning sunk costs into smart planning.
Staying on top of improvement costs helps you control spending and plan for future maintenance. We track all project-related expenses, including labour, materials, permits, and equipment, to provide a clear picture of your total investment. Our records help identify cost overruns early and ensure every dollar is assigned to the correct asset category.
Be it a single upgrade or a large-scale development, we keep your numbers straight from start to finish.
Do I Need A Land Improvement Accountant?
If your business is upgrading land or preparing a site for future use, we’re here to help you track every dollar accurately
Liu & Associates supports commercial and industrial clients across Edmonton, Calgary, and surrounding areas with detailed land improvement accounting services. From project budgeting to tax classification, we bring structure and clarity to your property investments.
Let our team help you stay organized, compliant, and prepared for year-end reporting. Contact us today to book a consultation and get started.
FAQs
Land is a non-depreciable asset that includes the base property, while land improvements are enhancements like fencing, parking lots, or grading that can be depreciated. The key difference lies in how each is treated on the balance sheet and for tax purposes.
Yes. Unlike land itself, improvements such as paving, lighting, or drainage systems have a limited useful life and are depreciated using the appropriate capital cost allowance class.
Land improvement costs are typically recorded as fixed assets in a separate account from land. These entries reflect both the cost and depreciation over time, making them visible for reporting and compliance.