by Kevin Jerry | Nov 9, 2022 | Safe Harbors, The Tangible Property Regulations
Routine Maintenance Safe Harbor Building owners! Under the Tangible Property Regulations, passed in 2014, you are not required to capitalize as an improvement or betterment, which means you can expense amounts that meet the following criteria: Amounts paid for...
by Kevin Jerry | Nov 1, 2022 | Expenditures, RABI Rules, The Tangible Property Regulations
Have the Tangible Property Regulations changed the rules for determining whether an expenditure is a deductible repair or a capital improvement? The Tangible Property Regulations put existing case law and prior tax regulations into a structure to help you determine...
by Kevin Jerry | Oct 24, 2022 | The Tangible Property Regulations, Unit of Property
The Unit of Property (UOP) concept is not new, but the rules are new to The Tangible Property Regulations under § 1.263(a). In the past, the regulations did not define property for the purposes of determining whether an expenditure after an asset is placed into...
by Kevin Jerry | Oct 5, 2022 | Safe Harbors, The Tangible Property Regulations
The Routine Maintenance Safe Harbor is one of the most overlooked safe harbors within the mandatory Tangible Property Regulations under §263a (1-3). If you are cost-segregating a property, you can assume your cost segregation firm has never heard of the Routine...
by Kevin Jerry | Sep 27, 2022 | Safe Harbors, The Tangible Property Regulations
The Tangible Property Regulations include a Safe Harbor for small taxpayers. This safe harbor is an excellent opportunity for (among others) single-family residential rentals, apartment complexes, and student housing. This Safe Harbor, within the Tangible Property...
by Kevin Jerry | Sep 13, 2022 | Cost Segregation, The Tangible Property Regulations
When investors and building owners purchase a building that may need to be totally gutted soon, they are disheartened to learn that they will lose all future depreciation deductions related to the building. This Regulation is under §280B. §280B states that if a...
