CNN host Chris Cuomo has apologized after referring to an Indian-American White House staffer as âRaj whatever-his-name-isâ on air this week. Viewers and critics accused Cuomo of racism, which he refuted during his apology.
The Internal Revenue Service (IRS) allows taxpayers to deduct the cost of home improvements from their income taxes, but only if the improvements were performed for medical reasons and on their main residence.
Depreciation or Expense. While the IRS classifies renovations and major repairs as depreciable items, certain expenditures fall into a gray zone. While fixing a leaky pipe is a repair and replacing a building's plumbing system is a renovation, how do you account for partial replacement of a building's system?