Tax discount question

[John Cahill]

Got a call from someone asking about special commercial inspections that might result in a tax discount. I thought it might be energy related. Anyone hear about tax discounts for a special commercial inspection?

[Michael R. Boyett]

John, I'm not aware of any special commercial or corporate tax treatments but there may very well be some. In general however, Repairs are 100% deductible in the year of the repair on Schedule C, line 21. Improvements are depreciated and amortized over the life of the improvement, typically 7-20 years, using Form 4562. The cost of the inspection could be included in either one I'm sure. Both methods obviously result in tax reductions.

[wsiegel]

Being as you are in Texas, are there any discounts for Hurricane shutters??

[John Cahill]

Do not know. I am in Dallas. Too far from coast to worry about hurrcanes.