Do you own rental property or your business’s building?
If you do, you need to understand the IRS’s new regulations that can have a big impact on your tax bill. You see, these regulations define what’s a tax-deductible “repair” to a building, and what’s an “improvement” that you must capitalize and depreciate.
We’ll explain why repair deductions are best and how the new regulations provide a huge tax break you need to know about now!
This all gets explained in my new, don’t-miss article titled Tax Tips: New IRS Regulations Hammer Tax Deductions for Repairs, But Also Allow a New Deduction.
Three ways our fact-filled article can help you:
- We’ll explain why repairs produce the most cash. There are three main reasons why a “repair” makes more sense than an “improvement.” We’ll spell them out for you. Plus, we’ll show you how a repair can produce up to 271% more cash than an improvement can. Get the whole story when you read the full article.
- We’ll list the “nine units of property.” To figure out whether you’ve repaired or improved your business or rental property, you first must determine what the “unit of property” consists of. The new regulations define the building (as a whole) as a unit of property but break out nine building systems as separate units of property. We’ll tell you what they are when you read the full article.
- We’ve make a tough subject, easy. The new IRS regulations are about 256 pages long and, believe me, they don’t make light reading. But you don’t have to struggle through them. We already did. Which means we can explain terms like “betterments,” “restorations,” adaptations,” and more. You’ll get the whole story in easily-digested form when you read the full article.