By now, you have likely heard about the new IRS tangible property regulations. These regulations were issued to provide guidance on when companies should capitalize or expense improvements and purchases. Manufacturers, who are likely to benefit from these new rules, will see significant impact. Action on your 2014 tax return may be required.
The rules, which affect every taxpayer using tangible property in its business, are complex and their impact is widespread. Here are the top four things you should know. Read the entire article.