Can certain small taxpayers simply expense inventory purchases?
This is great stuff Tom. Thank you. Your updates are excellent.
I have a couple clients that flip houses. They push to expense the renovations but I've been capitalizing the renovation costs until sold. Is expensing the renovation costs in the year incurred a valid option or too much of a stretch?
This is great stuff Tom. Thank you. Your updates are excellent.
I have a couple clients that flip houses. They push to expense the renovations but I've been capitalizing the renovation costs until sold. Is expensing the renovation costs in the year incurred a valid option or too much of a stretch?