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Tangible Property Deductions

Increase your current business deductions under tangible property safe harbors

2025 Tax Return, Depreciable Business Equipment, Section 179, Small Business, Small Business Owners, Small Business Tips, Tangible Property Deductions, Tax Return /

Did your business make repairs to tangible property, such as buildings, equipment or vehicles, in 2025? Such costs may be fully deductible on your 2025 income tax return — if they weren’t actually for “improvements” that must be depreciated over a period of years. Betterment, restoration or adaptation In general, a cost that results in […]

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New deduction for QPP can save significant taxes for manufacturers and similar businesses

Depreciation, One, Big, Beautiful Bill Act, Ordinary Income Tax, Qualified Production Property (QPP), Real Estate, Tangible Property Deductions /

The One Big Beautiful Bill Act (OBBBA) allows 100% first-year depreciation for nonresidential real estate that’s classified as qualified production property (QPP). This new break is different from the first-year bonus depreciation that’s available for assets such as tangible property with a recovery period of 20 years or less and qualified improvement property with a

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Make sure repairs to tangible property were actually repairs before you deduct the cost

Buildings, Depreciation, Exemptions, Repairs and Maintenance, Safe Habor, Small Business, Tangible Property Deductions, Tax Credits, Tax Deduction /

Repairs to tangible property, such as buildings, machinery, equipment or vehicles, can provide businesses a valuable current tax deduction — as long as the so-called repairs weren’t actually “improvements.” The costs of incidental repairs and maintenance can be immediately expensed and deducted on the current year’s income tax return. But costs incurred to improve tangible

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