Business Property Expenditures

By |2022-08-18T08:47:20-04:00March 25th, 2011|Taxation|

Many businesses continually make expenditures to improve and maintain business property.  However, it is not always clear whether the amount incurred to repair or refurbish that business property is a capital expense or an incidental repair.  Proper classification is critical because, for federal tax purposes, capital expenditures (see below) must be added to the property’s [...]