The section 179 deduction allows a small business to take a tax deduction for the entire cost of certain property and equipment in the year it buys that property. That produces a larger, more ...

Income tax filing season has arrived. Executors and trustees overseeing portfolios of real estate or interests in businesses holding tangible property have a new set of complex and far reaching ...

IMGCAP(1)]The IRS’s recent Audit Techniques Guide for the Tangible Property Regulations can help business taxpayers avoid problems with IRS examiners in interpreting the 2014 regulations on how to ...

In late 2013 the IRS published T.D. 9636, which contained final regulations under Secs. 162(a) and 263(a) that provide the rules regarding when costs incurred to acquire, produce, or improve tangible ...

Tangible personal property – that is, property (other than land or buildings) that you can see or touch – is a special asset class in many estates. A client’s tangibles include their jewelry, clothing ...