Tax Method Change Archives

How to File a Tax Method Change to take advantage of the Tangible Property Regulations

When and how do you change a method of accounting to use the final tangibles regulations? Under the Internal Revenue Code, a change in the method of accounting is usually a change in the handling of an expenditure. Meaning in the case of the tangible property regulations, the expenditure must be expensed or capitalized, or …

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What is a Negative 481a Adjustment, and How Do I Get One?

3115s, 481a, Cost Segregation, Method Change, The Tangible Property Regulations / By Kevin Jerry / November 16, 2022 November 16, 2022

When a tax method change occurs, whether it is from cost segregation, the Tangible Property Regulations, or any other tax method changes (for which the cutoff method cannot be used), a 481a adjustment must be used. Suppose income for any taxable year is under a different method of accounting from the method used in the …

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Creating a Hybrid Revenue Recognition Model for the Construction Industry

Construction Industry / By Kevin Jerry / August 17, 2022 August 17, 2022

A Hybrid Revenue Recognition Model to Increase Cash Flow Construction industry members — including owners, developers, contractors, subcontractors, and supply chain vendors — have experienced varying degrees of hardship due to the COVID-19 pandemic, supply chain challenges, cost increases, and “the Great Resignation.” The extent of the consequences is dependent upon the location of both …

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