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Non-Cattle Specific Topics
Coffee Shop
Tax time question
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<blockquote data-quote="Jogeephus" data-source="post: 1400227" data-attributes="member: 4362"><p>The "newness" is the key in my mind. Something expensive and new that has a life is what I go on. Something that can improve value but depreciate with time. Fixing something is just that. However if the cost of the repair is going to cause a deduction greater than taxable net income I might try and capitalize the cost over time to get the full tax benefit but whenever possible I'll go the deduction route. Just my opinion and my accountant might say different.</p></blockquote><p></p>
[QUOTE="Jogeephus, post: 1400227, member: 4362"] The "newness" is the key in my mind. Something expensive and new that has a life is what I go on. Something that can improve value but depreciate with time. Fixing something is just that. However if the cost of the repair is going to cause a deduction greater than taxable net income I might try and capitalize the cost over time to get the full tax benefit but whenever possible I'll go the deduction route. Just my opinion and my accountant might say different. [/QUOTE]
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