Good news!

The IRS is going to issue new repair regulations that will improve and simplify at least three of the nine sections of that 256-page set of repair regulations issued December 27, 2011, and originally effective January 1, 2012.

First, a brief reminder:

You deduct repairs in a single year.

You depreciate improvements over many years (39 years for nonresidential buildings, 27.5 years for residential buildings).

And then, depreciation is not what you would hope for. In reality, depreciation is more of a loan ... Log in to view full article.