TPRs and Cost Segregation for Tax Savings
As a commercial property owner or investor, you know depreciation is vital for your tax strategy. It lets you recover the cost of your property over time, reducing your taxable income. But did you know
Category: Tangible Property Repair
IRS Notice 2017-6 Creates Window of Opportunity to Unlock Tax Savings for Some Taxpayers
The IRS issued Notice 2017-6 to extend the time to make certain changes to comply with the tangible property regulations. This includes making accounting method changes for repair and maintenance expenses, depreciation, and certain property
SAVINGS UNDER THE TANGIBLE PROPERTY REPAIR REGULATIONS
The Final Tangible Property Repair Regulations are here to stay and provide significant benefits to taxpayers. Under these “TPR’s,” taxpayers must account for their annual expenses relating to: Materials & Supplies Repairs & Maintenance Routine