New Income Tax Regulations Related to Repairs and Capitalization

  By Jacob D. Favaro, CPA, CFP®, Tax Senior Manager The IRS recently issued new repair regulations that take effect January 1, 2014 that are intended to provide guidance on a variety of topics ranging from when you can deduct supply type items to what constitutes a repair and when you can deduct repairs for tax […]

CCH Special Report: 2014 Final Repair/Capitalization/MACRS Regulations Update

Linked below is a SPECIAL REPORT from Wolters Kluwer/CCH, highlighting the Final Repair/Capitalization/MACRS Regulations for 2014. “After several years of struggle, the IRS at long last completed its “repair regulations” project, including the closely related Modified Accelerated Cost Recovery System (MACRS) rules in 2014 dealing with dispositions and MACRS gen­eral asset, multiple asset, and item […]

Special Report: IRS Releases Comprehensive Repair/Capitalization Final Regulations

Linked below is a SPECIAL REPORT from Wolters Kluwer/CCH, highlighting the significant changes in final regulations governing repairs and capitalization.  This 12 page report that details the changes in safe harbors, materials and supplies thresholds, routine maintenance on buildings, and more. Should you have any questions about how this may impact your specific situation, please contact your […]

CCH Tax Briefing: Comprehensive Repair/Capitalization Regulations

More than six months after the IRS issued temporary “repair” regulations (T.D. 9564), many complex questions remain about their interpretation and application. One thing is for sure however; they affect all businesses in one way or another. Accordingly, it is vital to become intimately familiar with their content to understand how each client is affected. […]

New Capitalization Rules: Rotable Spare Parts

By Jennifer Flinchum, CPA, CFP® and Scott Zickefoose, CPA On December 23, 2011 the Treasury Department, together with the Internal Revenue Service, released further guidance related to taxpayers’ capitalization policies. It had been over two years since the service released guidance for taxpayers as it relates to their capitalization policies. These temporary regulations are in […]

New Capitalization Rules: Applying Repairs to Personal Property

On December 23, 2011 the Treasury Department, together with the Internal Revenue Service, released further guidance related to taxpayers’ capitalization policies. It had been over two years since the service released guidance for taxpayers as it relates to their capitalization policies. These temporary regulations are in effect for amounts paid or incurred on or after […]

Summary of Important Tax Developments

By Gary G. Wallace, CPA | Tax Partner The following is a summary of important tax developments that have occurred in the past three months that may affect you, your family, your investments, and your livelihood. Please contact your Keiter representative or information@keitercpa.com | 804.747.0000 for more information about any of these developments and what steps […]

AICPA’s Response to Temporary Proposed 2012 Regulations

As a follow up to our four part series on the New Capitalization Rules, we thought you might find the American Institute of CPA’s (AICPA) response and input on the new temporary and proposed regulations issued in December 2011 interesting. The AICPA has criticized the Internal Revenue Service stating that the proposed regulations for capitalization […]


Contact

How Can We Help You and Your Business?

Innsbrook Corporate Center
4401 Dominion Boulevard
Glen Allen, Virginia 23060

804.747.0000 or 804.273.6200

Directions