Tax professionals should be able to understand an HVAC invoice to determine whether the cost may be deducted as a repair expense. Without proper maintenance, the expected life of HVAC components can be drastically reduced, leading to expensive repairs. Of all the systems within a building, none are more affected by advances in technology than the heating, ventilation, and air conditioning (HVAC) system, which relies upon mechanical, electrical, and plumbing components. ![]() Each year, tax professionals who deal with real estate must evaluate the most recent building expenditures and determine which items should be deducted as a repair expense or capitalized.
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