Tax Laws for Tangible Property

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Cost Accounting, Financial Accounting, Intermediate Accounting, Managerial Accounting.

Late in 2013, the IRS issued final regulations regarding repair regulations and rules regarding the treatment of expenditures for acquiring, maintaining, or improving tangible property. The IRS issued final regulations on the treatment of disposing tangible property in 2014. This article provides guidance on the capitalization and expenditure rules contained within the regulations. Questions: 1…. Read more »