Tax Planning

Another question from the common questions file. Our short answer is: Repairs and Maintenance are generally defined as a cost that repairs or replaces an existing item. That means if you replace an appliance with another comparable appliance then it will generally be Repairs & Maintenance, even...

There seems to be a general misconception around that tax deductions related to the costs of holding vacant land upon which to build a rental property have been removed. "Deductions for vacant land are still available if you buy vacant land with the intent to build a rental...