Posts Tagged ‘property repair’

What Is The Difference Between Fixed Asset Expensing And Capitalization?

Thursday, October 17th, 2013

If you’re about to acquire, produce or improve real or tangible personal property, and then turn around and use the property in a trade of business for income, stop right there. Under the Internal Revenue Code, you’re required to capitalize certain amounts of money you invested into the property.  (more…)

How Does the IRS Treat Property Repair Expenses?

Wednesday, November 21st, 2012

Tax treatment of property repairs has long frustrated business owners and accountants alike. The system has been confusing, hard to follow and seemingly eternally inconsistent. Recent changes to the Internal Revenue Code have streamlined the treatments of property repairs, but not all the changes are as taxpayer-friendly as you may have hoped. (more…)