Tag: 263a

financial statement

Q&A RE: Proper Financial Statement Presentation Following a 263(a) Study

Does this change of reporting the R&M expense for tax reporting purposes, per IRS statute, require that we conform with the same presentation / treatment for financial statement reporting? Situation Background ABC Company engaged Engineered Tax Services to perform a Repairs & Maintenance Study. The R&M Study identified approximately $15K of capitalized assets from 2005

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A quick read on what the Final Repair Regs mean – 263(a)

RECENT CHANGES TO REPAIR REULATIONs, EFFECTIVE JANUARY 1st, 2014 In order to readjust and clarify the repair regulations and make them more taxpayer friendly, the IRS recently made a series of changes. These regulations indicate when taxpayers need to capitalize or deduct expenditures associated with the maintenance, upkeep, and improvement on business properties and other

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property repair regulations

What You Need to Know about the Repair Regulations and Improvements

Through a thorough analysis of your expenses for repairs and maintenance, ETS can help you reduce your tax liability and improve cash flow by properly reclassifying these expenditures. First, we will identify which asset costs are not properly classified, then reclassify them as deductible repairs as defined by IRS Code Sections 162 and 263a. Deductible

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