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Tag Archives: Tangible Personal Property

Taking advantage of tangible property safe harbors

By Legacy Protection, LLP |

If your business has made repairs to tangible property, such as buildings, machinery, equipment and vehicles, you may be eligible for a deduction on your 2014 income tax return. But you must make sure they were truly “repairs,” and not actually “improvements.” Why? Costs incurred to improve tangible property must be depreciated over a… Read More »

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