James Rogers, CPA is our firm’s expert regarding the new IRS repairs and maintenance regulations that control when amounts paid must be capitalized and depreciated in contrast to when items should be written off as repairs or maintenance. James recently led a continuing education course regarding the new regulations and the opportunities that have been created by the new rules.
Owners of real property who have made improvements to their property during the years they have owned the property may especially be able to benefit from the new rules when filing their 2014 income tax returns. Failure to act could result in the loss of depreciation deductions in the future.
If you own rental property or you are a commercial building owner and you have questions about how you can benefit, contact James at (803) 771-0077.