NEW Special Report!

Special Report

Capitalizing or Deducting Expenditures under the Tangible Property Regulations

This special report details the tangible property regulations around capitalizing or deducting expenditures.

IRC Sec. 263(a) requires the capitalization of amounts paid to acquire, produce or improve tangible property, while IRC Sec. 162(a) allows a deduction for ordinary and necessary expenses paid or incurred in carrying on a trade or business, including the costs of supplies, repairs and maintenance.

This special report discusses the final tangible property regulations that were released by the IRS to clarify the proper categorization of tangible property expenditures. The final regulations generally apply to tax years beginning on or after January 1, 2014, although taxpayers can choose to apply them to 2012 and 2013 as well.

Please fill out the brief form below to request this new special report.

Request Special Report: Capitalizing or Deducting Expenditures under the Tangible Property Regulations
(All fields required)



» NOTE:By clicking “Submit,” you agree to be contacted in order to help with your inquiry.

Related Guidance

Limited Time Offer:

You can save 20%* when you purchase two or more of the individual titles included on this page.

*Applies to new orders only. May not be combined with any other offer or promotion. Titles must be purchased at the same time in order to qualify for the discount. Discount applied automatically at checkout for Web store orders (no promotion code necessary).

PPC’s 1065 Deskbook — Updated for the Tax Increase Prevention Act of 2014

Partnerships will be a “top priority” for the Small Business/Self-Employed (SB/SE) Division, according to the SB/ SE Commissioner. With the key issues, examples, filled-in Schedule K-1s and other forms, checklists, worksheets, and other quality control tools you’ll find in PPC’s 1065 Deskbook, you and your staff can solve the difficult or unclear issues encountered when preparing Form 1065. The deskbook points out elections and other tax-saving opportunities while preparing the return; plus, the tax planning roadmap highlights planning opportunities that you and your staff can pursue after busy season.

Learn more


PPC’s 1120 Deskbook — Updated for the Tax Increase Prevention Act of 2014

Given the IRS’s emphasis on practitioner due diligence, proper preparation of your clients’ returns is more important than ever. With the key issues, examples tied to filled-in forms, checklists, worksheets, and other quality control tools you’ll find in PPC’s 1120 Deskbook, you and your staff can solve the difficult, unclear or misunderstood issues encountered when preparing Form 1120. The deskbook points out elections and other tax-saving opportunities to take advantage of while preparing the return; plus, the tax planning roadmap highlights planning opportunities that you and your staff can pursue after busy season.

Learn more


PPC’s 1120S Deskbook — Updated for the Tax Increase Prevention Act of 2014

With the IRS’s renewed interest in examining pass-through returns and emphasis on practitioner due diligence, proper preparation of your clients’ returns is more important than ever. With the key issues, examples, filled-in Schedule K-1s and other forms, checklists, worksheets and other quality control tools in the deskbook, you and your staff can solve the difficult or unclear issues encountered when preparing Form 1120S and the related forms and schedules, as well as Forms 2553 (S election form) and 8869 (QSub election form). The deskbook points out elections and other tax-saving opportunities while preparing the return; plus, the tax planning roadmaps highlight planning opportunities that you and your staff can pursue after busy season.

Learn more


Federal Depreciation Handbook and Depreciation Calculator

The Federal Depreciation Handbook from Thomson Reuters provides expert guidance on tax depreciation and other cost recovery issues to help tax practitioners make tax-efficient decisions and elections when an asset is placed in service. The handbook also explains how to structure business property transactions to optimize federal income tax results when performing general tax planning or transactional consulting services.

The Federal Depreciation Handbook on Checkpoint comes with a Depreciation Calculator to perform quick and easy depreciation calculations for tax planning or for determining the most appropriate depreciation elections when an asset is placed into service. The Depreciation Calculator also generates a depreciation schedule for the life of the asset.

Learn more