The IRS and Treasury Department recently issued the long-awaited Repair and Maintenance Regulations. These regulations will have a major impact on companies with large investments in fixed assets including real estate. The new regulations set forth a framework for analyzing the highly factual and frequently controversial question of whether an expense is currently deductible as an ordinary and necessary repair or must be treated as a "capital" improvement that is depreciated over a longer recovery period.
This webcast will address these developments and how they may impact your business. Specifically, the webcast panelists will discuss technical developments on certain aspects of the regulations, challenges related to complying with the regulations, practical solutions on how to assess the impact of these regulations on your business, and strategies on how to implement the repair regulations. Be sure you don't get left behind, the IRS has been clear that they expect all taxpayers to make at least 1 change in accounting method.
- You should attend if:
- your business has substantial fixed assets
- you need to analyze your company's repair policy to determine if changes are needed
- you need to understand if changes are needed for your company's inventory policy in accordance with the new regulations
- you would like to know if you are affected by the new de minimis standard
Presenters: Nate Buchalski –Moderator is a partner with Plante Moran. Jonathan Winterkorn –Speaker is an associate with Plante Moran. Emily Murphy-Speaker is an associate with Plante. Nate, Jonathan and Emily are all members of the Tax Solutions Group.