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
June 22, 2015
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