Posts made in December, 2015

By Lisa Levinson on Dec 28, 2015 in Uncategorized | 0 comments

The tax law allows businesses to deduct ordinary and necessary expenses, including the costs of repairs and maintenance. However, amounts paid to acquire and improve buildings, equipment, and other tangible property must be capitalized and generally are deducted over time through depreciation. Reconciling the two rules has been difficult for many businesses. To help...