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The tangible property regulations are in effect as of January 1, 2014. All taxpayers with fixed assets will be required to make at least one accounting method change to comply. This must be done before filing 2014 returns. These regulations create new opportunities for tax savings, especially in 2014. Here’s where to start… Review fixed […]

All regulations relating to tangible property expenditures are now final, with mandatory compliance starting in 2014. These regulations open the door for taxpayers to expense certain items and to recognize tax write-offs for partial disposals of retired assets. Here are the regulation related issues regarding roofing work: A betterment occurs when a replacement results in […]

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