2013 Automobile Depreciation Limits Released
The IRS on Monday issued the 2013 inflation adjustments to the depreciation limitations and lease inclusion amounts for certain automobiles under Sec. 280F.
Depreciation
IRS Issues Prop. Regs. on Allocation of Costs Under Simplified Sec. 263A Methods
The IRS has issued proposed regulations on allocating costs to property produced or acquired by a taxpayer for resale.
Depreciation and Changes in Use of Real Property
This item discusses the distinction between residential and nonresidential property, depreciation, and the application of the change-in-use regulations if a rental property changes from residential use to nonresidential or vice versa.
Post-Deal Depreciation: Impact of Certain Nonrecognition Transactions
When planning an incorporation or reorganization transaction, taxpayers and their advisers may not examine in depth the related accounting method and depreciation issues that arise as a result of the transaction.
2012 Automobile Depreciation Limits
The IRS issued the 2012 inflation adjustments to the depreciation limitations and lease inclusion amounts for certain automobiles under Sec. 280F (Rev. Proc. 2012-23).
2012 Automobile Depreciation Limits Released
The IRS issued the 2012 inflation adjustments to the depreciation limitations and lease inclusion amounts for certain automobiles under Sec. 280F.
100% Bonus Depreciation and the Corporate Election to Increase the Minimum Tax Credit Limitation
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 extends the 50% bonus depreciation deduction to qualifying property placed in service through 2012. Congress also provided a 100% bonus depreciation deduction for qualified property acquired and placed in service after September 8, 2010, through December 31, 2011.
Some Implications of 100% Bonus Depreciation
This item discusses optimization of the 100% bonus depreciation deduction, highlighting some of its implications and peculiarities.
Claiming Bonus Depreciation on Self-Constructed Long Production Period Assets
This item discusses the process of claiming bonus depreciation on self-constructed long production period assets, with a focus on how the taxpayer can determine how the binding contract rules and placed-in-service rules apply to particular projects.
100% Bonus Depreciation Guidance Issued
In Rev. Proc. 2011-26, the IRS has issued guidance on how taxpayers can deduct 100% of the cost of qualified business property placed in service in 2011 under rules enacted last year .
Hurricane GO Zones: An Update on Relevant Tax Provisions
The widespread devastation left in the wake of hurricanes has resulted in numerous tax provisions aimed at revitalizing and rebuilding the affected areas. Congress passed the Gulf Opportunity Zone Act of 2005, P.L. 109-135 (the GO Zone Act), in response to Hurricane Katrina and then revised it as Hurricanes Rita
Treatment of Capitalized Costs of Intangible Assets (Part I)
This two-part article examines cost recovery of intangible asset expenditures. Part I summarizes the applicable capitalization regulations, Sec. 197 cost recovery and general Sec. 167 amortization rules.
