Are capital expenses tax deductible?
Capital expenses, also known as capital expenditures, are costs incurred by a business to acquire, improve, or maintain long-term assets. These assets can include property, equipment, and other resources that are expected to provide benefits to the business over a period of time. One of the most common questions among business owners and financial professionals is whether these capital expenses are tax deductible. Understanding the tax implications of capital expenses is crucial for businesses to maximize their tax savings and ensure compliance with tax regulations. In this article, we will explore the factors that determine whether capital expenses are tax deductible and provide some insights on how businesses can take advantage of these deductions.
