Taxation on Improvements to a new rental property

[Axy Parikh]

I am investing in my first rental property and need help navigating a few basic questions:

- If I make improvements to this rental property, how is it taxed? (Is it considered expense and can be deducted at one go? Is it part of standard deduction?)

- Need help with a rough calculation of income and expenses from tax perspective (Rent: 1k, Property Cost: 100k). Expenses - 300 HOA, Interest 290, Property Tax 100, Insurance 60. In this case my profit will be 1000 - (300+290+100+60) = 250/Month which is 3k/Annum. How does standard deduction, other expenses (like repairs) affect this inclusion of 3k to my income?