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In this video, I’ll discuss a crucial topic for real estate investors: understanding the difference between repairs and improvements on investment properties. Knowing this distinction is essential, as it can significantly impact tax benefits and deductions.
While you might add certain home improvement costs to your home’s basis, it won’t translate to an immediate tax deduction. However, for investment properties, you can differentiate between repairs, which can be written off immediately, and improvements, which are capitalized and depreciated over time.
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Show Notes:
0:00 Intro
2:56 What is a repair?
4:58 What is an improvement?
8:29 General Principles
12:37 Repaing example
16:15 Writing off routine maintenance
18:13 Final Notes
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ABOUT TOBY MATHIS
Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at https://aba.link/tobyaba
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
#repairs #improvement #realestateinvesting #realestate
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