When to Capitalize Repairs for Tax Purposes

When to Capitalize Repairs for Tax Purposes

Capitalizing Repairs For businesses, repairs and maintenance are a regular part of operations, which help keep your assets in proper working condition. However, when it comes to tax treatment, not all repairs can be immediately deducted as expenses. Sometimes, these...
What is a FAR Audit?

What is a FAR Audit?

FAR Audit If you have ever operated a business involved in federal government contracts, you may have heard about FAR audits. These audits, governed by the Federal Acquisition Regulations (FAR), are how companies maintain compliance with government requirements and...