Understanding How the New Repair Regulations Will Impact Your Business - Recorded Webinar

General Business

December 12, 2013
by Rick Taylor, CPA

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Rick Taylor Rick Taylor, CPA
National Tax Office Leader

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In September 2013, the Internal Revenue Service issued final regulations that will dramatically change how you must deal with repairs and maintenance expenditures. The new regulations contain many rules that go way beyond repairs. They affect all taxpayers that acquire, produce, or improve tangible property. Most importantly, the new regulations contain numerous provisions that significantly change the interpretation of previous law and undoubtedly differ (often significantly) from current methods you use. Because the new regulations are effective January 1, 2014, taxpayers need to quickly determine how to implement the new rules.
During this 60-minute webinar, we will:
  • Provide an overview of the new rules with an emphasis on those aspects of the regulations that affect middle-market and small businesses
  • Explain the significance of a “unit of property” and “building systems” and how those concepts apply to buildings and other large assets
  • Explain how the new disposition rules operate to allow current deductions for retired structural components of a building
  • Explain the application of de minimis expensing provisions to small and middle-market businesses, including what you must do now
  • Illustrate a limited planning opportunity that may provide benefits for 2012 and 2013
  • Provide practical strategies for implementation

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Length: 32 pages (PDF 578 kB,WMV 17417 kB)

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