Accounting for repairs and expenses on a rental property is a topic that creates a lot of confusion. However, the IRS has set forth regulations that are very clear.
On today’s show, I’m sharing a simple mnemonic device you can use to determine whether or not an expense can be written off immediately, or capitalized over time. I’ll give specific examples, quote exact wording from the tax code, and share why I love making repairs on my rentals! Press play to learn more about the BRA Method!
Show notes: http://morrisinvest.com/episode303
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