Office building Accountant

Depreciation Rules for Qualified Leasehold Improvements

Favorable Depreciation Rules for Qualified Leasehold Improvements Placed In Service in 2013 There are special rules which are a dramatic departure from the general rule that deductions for the cost of non-residential buildings, or improvements to the buildings, are allowed over a 39-year period. Whether you are a landlord or a tenant, some of the…

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Regulations for Manufacturers

IRS Chief Counsel Advice concluded that a manufacturer need NOT capitalize, under Reg. 1.263(a)-4, payments to retail sellers to construct and maintain a dedicated sales area for its products. The payments did not create or enhance a separate and distinct intangible asset within the meaning of Reg. 1.263(a)-4(b)(3) because the manufacturer’s rights “had no value…

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Tax Calculator

Deducting and Capitalizing Business Expenses Under Final Regs

There is an important development that will affect every business. The IRS has issued long-awaited regulations (“regs”) on the tax treatment of amounts paid to acquire, produce, or improve tangible property. The regs explain when those payments can be deducted, which confers an immediate tax benefit, and when they must be capitalized. These final regs…

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