Article : Real Estate Tax and Rental Property FAQs
Read the article and answer the following questions completely and fully:
1. Fully explain the difference between a repair and an improvement? Give an example of each.
2. Fully explain the procedure to calculate depreciation on a residential property and commercial real estate?
3. Fully explain the difference between straight-line depreciation and declining balance depreciation? Which one would you use and why?
This is a written assignment of about a page or two and you may have to perform additional research on the topic to get a full understanding of the topic and to complete the assignment. Remember to document your sources and state that it is your opinion if it is so.