This message is sent to you by AccountingNewswatch IRS Repair and Maintenance Regulation UpdateDate: Thursday, November 9, 2017 |
Sponsored by Lorman Education Services |
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Learn how to comply with the repair and maintenance regulations and where to make the necessary accounting method changes.The Internal Revenue Service (IRS) has finalized the regulations regarding the deduction and capitalization of expenditures related to tangible property (commonly referred to as the repair and maintenance regulations). Additionally, the topic will review Rev Proc 2015-20 and the 3115 relief for small taxpayers. There are new provisions in the regulations that you should be aware of and affect virtually all types of businesses. Five main areas affected by these regulations include materials and supplies, repairs and maintenance, capital expenditures, amounts paid for the acquisition or production of tangible property and amounts paid for the improvements of tangible property. Included in the final regulations are favorable tax changes that could benefit you and your business. Additionally, it is important to stay up to date and comprehend the final regulations to ensure compliance with the IRS. Learning Objectives:
This Live Webinar Covers These Hot Issues: Background
Capitalization Standards
Improvements to Tangible Property
Safe Harbor Rules
Updates to the Regulations Since Finalization
Capitalization Decision Flowchart (Handout) Credit Information (Sponsored by Lorman Education Services):
For Detailed Credit Information page click here Faculty: Jim Forbes, CPA, Skoda Minotti
Dennis C. Murphy, Jr., CPA, Skoda Minotti
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(Not available outside the US) |