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New Tax Guidance For Owners Of Real Estate Part II “Routine Maintenance”

By on October 23, 2013 in Education, News with 0 Comments
New Tax Guidance For Owners Of Real Estate Part II “Routine Maintenance”

In my October 21st blog called ” New Tax Guidance for Owners of Real Estate Part I “Small taxpayer safe harbor” I discuss the finalization of the IRS regulations that will help you determine if an expense to repair or replace an item at your residential or commercial property can be taken in the current […]

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New Tax Guidance for Owners of Real Estate Part I “Small Taxpayer Safe Harbor”

By on October 21, 2013 in News with 0 Comments
New Tax Guidance for Owners of Real Estate Part I “Small Taxpayer Safe Harbor”

The IRS recently released final “Guidance Regarding Deduction and Capitalization of Expenditures Related to Tangible Property”. The 222 pages of regulations explain (at length) how to deduct improvements and repairs to both commercial and residential properties. The new regulations take effect the beginning of the next calender year and surprisingly have some benefits for owners […]

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