Black Friday Appliances for Rental - Best Accounting Method??
I am in the process of renovating a rental property through an insurance claim after a recent fire. Appliances are not included in the insurance claim of what's being covered by insurance since that falls under "personal" items.
I am planning to buy a new kitchen set with the Black Friday deals coming up; however before I did so I wanted to see if anyone had any recommended tax strategies in terms of categorizing them as a repair vs. cap ex, or being able to possible deduct the expense or depreciate them? Any thoughts are greatly appreciated!