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“Hello, This is the IRS.”

How to Avoid IRS Scams Most of us try to avoid run-ins with the Internal Revenue Service. We file our tax returns, pay our taxes and, generally, keep our noses down and accounts in good order [...]

By | December 5th, 2014|Real Estate, Tax|

Tangible Asset Regulations: Overall Impact for the Taxpayer

This week concludes our six-part email series on the new tangible asset regulations which are generally effective for tax years beginning after 1/1/14 and impacts any taxpayer with capitalized assets or supplies.  The following is [...]

By | December 4th, 2014|Real Estate, Tax|

Tangible Asset Regulations Part 6: Repairs vs. Improvements

The new Tangible Asset Regulations (TARS) implements three new tests to determine whether expenditures related to a unit of property (UOP) should be capitalized or expensed. The three tests are the betterment test, the restoration [...]

By | November 26th, 2014|Real Estate|

Tangible Asset Regulations Part 5: Unit of Property – Non-Building

The rules for Units of Property – Non-Building, the fifth topic in our series, define that a single Unit of Property, for property that is not a building, includes components that are functionally interdependent. Functionally [...]

By | November 20th, 2014|Real Estate|

Tangible Asset Regulations Part 4: Building Systems

The rules for Building Systems, the fourth topic in our series, clarify that a building has nine different units of property when determining if an expenditure is a capitalized improvement or a deductible expense. The [...]

By | November 13th, 2014|Real Estate|

Tangible Asset Regulations Part 3: Materials and Supplies

The rules for Materials and Supplies, the third topic in our series, define materials and supplies to include items costing $200 or less. These rules require non-incidental items to be capitalized and deducted when used [...]

By | November 6th, 2014|Real Estate|

Tangible Asset Regulations Part 2: De Minimis Safe Harbor

The De Minimis Safe Harbor rules, the second topic in our series, allow you to annually elect to expense certain expenditures if you have a written policy in place at the beginning of your tax year.  [...]

By | October 30th, 2014|Real Estate|

Tangible Asset Regulations Part 1: Why Do They Matter?

This is the first in a six-part series of emails that will provide an overview of the new tangible asset regulations that were finalized in late 2013.  These are generally effective for tax years beginning [...]

By | October 23rd, 2014|Real Estate|