TPRs

Building for Routine Maintenance Safe Harbor

Routine Maintenance Safe Harbor

The Routine Maintenance Safe Harbor is one of the most overlooked safe harbors within the mandatory Tangible Property Regulations under ยง263a (1-3). If you are cost-segregating a property, you can assume your cost segregation firm has never heard of the Routine Maintenance Safe Harbor. The reason is the majority of cost segregation firms, especially the …

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Who Needs to Follow the Tangible Property Regulations?

Let’s Explore How the Tangible Property Regulations Came to Be The IRS and Treasury began a project in 2004 to update and clarify regulations that determine capitalization or expensing expenditures on tangible property. The Internal Revenue Service and many taxpayers were in constant conflict and court battles over whether expenditures on tangible property (including building …

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Q&A on The Tangible Property Regulations

Questions from the Webinar on August 2, 2022 Why are the Regulations being ignored?The Tangible Property Regulations are extremely difficult to understand and even more challenging to implement. Our best guess is that the Regulations take at least 800 hours to learn. As a result, most Tax Professionals defer to the old and seemingly conservative …

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