Question: Explain when an expenditure should be capitalized based upon accounting principles. From time to time, it is suggested that all business expenditures should be deducted

Explain when an expenditure should be capitalized based upon accounting principles. From time to time, it is suggested that all business expenditures should be deducted when incurred for tax purposes. Do you agree with this proposition, and if so, why? In addition, can an individual take a medical deduction for a capital improvement to his or her personal residence? If so,how is it calculated?

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