Tag: Tax Regulations

T-Regs Q&A: Can you expense a remodel as a repair like you do parking lot resurfacing?

TANGIBLE PROPERTY REPAIR REGULATIONS Q&A Scenario: A client owns fast food franchises and is required to remodel the stores every 7 years. Under the previous law, we have always capitalized these expenditures and expensed the remaining capitalized costs. Details: Own/Rent: Rent Revenue: $1.5M-$2M (decreased during remodel, increase approx. 5% after) Remodel Cost: $400k Can we

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TAX ALERT: IRS Finalizes Regs. Governing Disposition of Depreciable Property

IRS FINALIZES MACRS DISPOSITION AND GENERAL ASSET ACCOUNTING REGULATIONS (T.D. 9689) Issued August 15, 2014 The regulations regarding the treatment of tangible property and dispositions/partial-dispositions was finalized on Friday. The IRS made only a minor change in which they changed the calculation for disposition from using the “consumer product index” to the “producer product index.”

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