Mark Baricos, Managing Director for the Memphis office, recently shared “3 Post-Tax Season Tangible Property Takeaways” for AccountingWEB. These few key takeaways follow the first tax filing in which Tangible Property Regulations were mandated:
1. TPRs will continue to be an issue that taxpayers face annually, as they review how certain expenditures should be treated (expensed versus capitalized and depreciated).
2. TPRs will continue to have a significant impact on certain industries.
3. TPRs will require proper internal controls related to the treatment of capital expenditures.
Mark also shares a few questions and best practices to consider as you plan tax compliance strategies.
To read the full article, click here.
For more information regarding how the Tangible Property Regulations may affect your business or tax filing, feel free to contact Mark at firstname.lastname@example.org.