In late 2013, the Internal Revenue Service (IRS) finalized the regulations regarding the deduction and capitalization of expenditures related to tangible property. These final regulations apply to taxable years beginning on or after January 1, 2014.
The professionals in our Real Estate and Construction group specialize in IRS repair regulation updates. These regulations affect all types and sizes of businesses. There are significant tax-saving opportunities in which you may qualify; we will ensure you and your business are made aware of all the possible tax benefits as a result of the regulation while staying compliant with the IRS.