This may save you money!
Repair vs Replace?
If you repair something in your rental property (ie. say the furnace isn't working properly), that cost is a 100% write-off for that year.
If you replace the furnace, it gets put on a depreciation schedule and is only depreciated a little bit over the next few years.
Therefore, sometimes fixing things is faster, less expensive, and easier on your pocketbook when it comes to tax time.
You may speak to your accountant about this but this is the basic premise.
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