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Article Date:
January 2011

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Better Tax Deductions for Repairs to Business and Rental Buildings

Tax-favored repairs increase net worth.


Tax-impaired improvements decrease net worth.


The fix-up you can label as a repair could be 271 percent more valuable than an improvement, as explained in the article titled “Tax Saving Tips: Repairs Put Cash in Your Pocket.


Since we are talking real money here, if you own your business office or rental real estate, you need to know what a repair is and what an improvement is.


New IRS Audit Guide


On November 12, 2010, the IRS released its latest audit technique guide on this subject, titled Capitalization v Repairs.1


The audit guide confirms the continued existence of the gray area in classifying a fix-up as either a repair or an improvement. Usually, we hate gray areas and do ... Log in to view full article.

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