…for parts, engines, and supplies used in maintaining, repairing or reconditioning aircraft or an aircraft’s avionics system, engine or component parts. The extended exemption continues to apply to unmanned systems…
…allowed us to work from home if a repair man was coming or a child was sick and home from school,” Andrew states. Andrew’s journey to partner would not have…
…the current year for missed deductions due to a recomputed calculation of depreciation or repair deductions. The change in method will be treated as initiated by the taxpayer as an…
…applies to any individual taxpayers who pay to repair damage to their personal residence caused by a deteriorating concrete foundation that contains the mineral pyrrhotite. The safe harbor is available…
…period in determining the mandatory interest capitalization period in producing beer, wine or distilled spirits. Tax provisions extended (abbreviated list) The TCDTR extends the following tax credits without other changes:…
…offer smart contract-based tools to allow entrepreneurs to automate compliance with these regulations. As a result, a company’s capitalization table would live on a blockchain rather than in a lawyer’s…
…the applicability of the ACM and the ACL. Other Take-Aways The ACM does not affect the application of general capitalization rules for developers under IRC Section 263(a) and IRC Section…
In 2013, Treasury and the IRS issued regulations to provide guidance for required capitalization of certain assets, applicable for tax years beginning in 2014. The IRS recently released a notice,…
…and materials and supplies, assuming the costs don’t have to be capitalized under the Code Sec. 263A uniform capitalization (UNICAP) rules. To qualify for the election, the cost of a…
…for various accounting methods (cash-basis, inventories, uniform capitalization), starting at $25M gross receipts in 2018 and indexed for inflation. Entertainment expenses 100% nondeductible. Keiter tax professionals stay current with business…
…to allow for periodic redemptions. A thorough valuation policy that can be consistently followed is essential. Stable, income-producing properties can be valued using an income capitalization method that is verifiable…
…the acquisition cost equals or exceeds the lesser of your capitalization policy established for financial statement purposes or $5,000. Matching, Level of Effort, Earmarking. This is unique to each federal…