CALCULATORS…ON YOUR MARKS!

We’re about to use the ‘T’ word…..TAX! Here’s some tips to make sure you don’t trip up @ tax time: 1. REPAIRS Vs IMPROVEMENTS – don’t claim an improvement as a repair & book an immediate deduction. 2. Depreciation – it pays to get a depreciation report done. Could save you thousands. 3. BUILDING COST – Forgetting to write down the value of the building cost can mean missing out on thousands of $’s. Tax time doesn’t have to be awful. Many investors will find it to be their favourite time of year.