Title: GAAP on Capital Vs. Repair | Small Business - Chron.com
Headings: GAAP on Capital Vs. Repair
GAAP on Capital Vs. Repair
Definition of Capital Expenditure Under GAAP
Repair and Maintenance Expenses
Determining the Differences
Not All Expenses Are the Same

Content: For example, should you capitalize painting costs if you repaint the entire outside of your building? Even as a large expense, painting or repainting your office or building is generally considered to be a part of routine maintenance and is therefore a current or deductible business expense. However, if you paint your building or room as part of a larger renovation, which is considered a capital improvement to your property, then the painting can also be capitalized and depreciated over time. For example, if you built an addition to your current space, redid all the windows and then painted the entire building, the painting could then be capitalized as part of the larger capital improvement project. It is always a good idea to consult with an accountant prior to categorizing these types of expenses. Accountants are very familiar with standardized accounting principles and help you make the decisions that financially benefit your business. ‒‒:‒‒
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References
Nolo.com: Current vs. Capital Expenses
USFC.edu: Reminder: Capitalization of Equipment Repairs and Maintenance
Accountingcoach.com: