Ever since the Internal Revenue Code first became effective, the IRS and taxpayers have struggled over the treatment of expenditures on tangible property, i.e. whether these amounts are currently deductible or must be capitalized and deducted through depreciation over time. Fortunately the IRS has established the final Tangible Property Regulations. The regulations are comprehensive and complicated, and may require you to adopt new accounting procedures in order to comply with various provisions.
Our eBook offers a guide to such things as:
Partial Disposition Election
Routine Maintenance Safe Harbor
De Minimis Expensing