Month: March 2018

A repairs deduction to tangible property, such as buildings, machinery, equipment or vehicles, can be valuable for a business’ current taxes.  This is applicable as long as the so-called repairs weren’t actually “improvements.” The costs of incidental repairs and maintenance can be immediately expensed and deducted on the current year’s income tax return. But costs … Continue reading “Tangible Property Repairs Deduction – Were They Actually Repairs?”