Commercial Roof Maintenance Tax Deductions
Learn how commercial building owners can receive big tax breaks for roof maintenance & repairs
The IRS issued regulations in 2014 outlining detailed rules for how repairs and maintenance expenses are deducted. The tangible property regulations affect all taxpayers who improve, repair, or dispose of tangible property and provide a framework for distinguishing deductible costs from costs that must be capitalized. Now that we’re in the thick of tax season, there’s no better time to revisit these regulations to make sure property managers are saving, not losing, money on their roof maintenance this tax season.
When it comes to taxes, repairs are better than capital expenditures. The entire cost of a repair is deductible in a single year...Read More