Like financial accounting, most business property must be capitalized for tax purposes.

Name: Like financial accounting, most business property must be capitalized for tax purposes.
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Business property, such as equipment and buildings, is considered a long-term asset and must be capitalized for tax purposes. This means that the cost of the asset is spread over its useful life and deducted gradually over time, rather than in one lump sum.

Like Financial Accounting, Most Business Property Must Be Capitalized for Tax