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Tangible Property Regulation Update

New Tangible Property Repair Regulations – Immediate Action Required

February 9, 2015By Anna Chen

The IRS and taxpayers have long disputed whether to classify certain expenditures as either deductible repairs\supplies or as assets that have to be capitalized and depreciated. In attempt to resolve these controversies, the IRS released the final repair and capitalization regulations. These new rules are in full effect for the 2014 tax year and require Read the full article…

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Slide GREGORY A. KNISS, CPA Chairman of the Board Button with arrow Slide LOU GUERRERO, CPA, MBT Tax Principal Button with arrow Slide JASON C. MELILLO, CPA CEO Button with arrow
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©2023 KROST Certified Public Accountants & Consultants | Privacy Policy | Terms of Service/Use | Cookie Policy | Do Not Sell My Information

Accountants | Auditors | Consultants | CPAs – KROST CPAs & Consultants is a certified public accounting and consulting firm focused on serving companies across Southern California (CA) with offices in Pasadena, Woodland Hills, and West LA. Since 1939, KROST has assisted businesses and individuals reach their financial goals through their in-depth knowledge of Tax, Accounting, Assurance and Advisory, Client Accounting Services (CAS), KROST Business Intelligence (KBI), M&A, Wealth Management, and Consulting Services. KROST also provides specialty tax services such as Cost Segregation studies, R&D tax credits, Green Building Tax Incentives, Repair vs. Capitalization, Fixed Asset, IC-DISC, and more. For additional information contact us at 626-449-4225.

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  • About
    • Who We Are
    • Our Team
    • Associations
    • Press
    • Firm Culture
      • Philanthropy
      • Firm Events
      • Diversity, Equity, Inclusion, & Belonging Committee
    • Awards & Recognition
    • History of KROST
    • Speaker Inquiry
    • Join Our Team
      • Job Opportunities
  • Services
    • Accounting Services
      • Accounting Services Overview
      • Ancillary Tax Reporting
      • Bookkeeping
      • Business Wind Up
      • Clean up and Write Up
      • Client Accounting Services (CAS)
      • Family Office
      • Financial Management
      • Financial Reporting
      • Outsourced CFO
      • Policy and Procedure Consulting
      • Software Training
      • Start-Up Accounting
      • Trust and Probate
    • Client Accounting Services (CAS)
    • Assurance & Advisory Services
      • Audit and Assurance Services
      • Agreed Upon Procedures
      • CCPA Audit
      • Internal Control, Checks and Balances
      • Cyber KROST
      • Data Analytics Consulting
      • DPR Attestation
      • Environment, Social, and Governance (ESG) Reporting & Consulting
      • Due Diligence
      • FRF for SME
      • Lease Accounting Advisory
      • Waterfall Calculations
    • Mergers & Acquisitions
      • Mergers & Acquisitions Services Overview
      • Buy-Side M&A
      • Non-Transactional Services M&A
      • Raising Capital M&A
      • Sell-Side M&A
    • Tax Services
      • Tax Services Overview
      • Business Tax Consulting and Compliance
      • Estate and Gift, Trust, and Probate
      • Individual Tax Consulting and Compliance
      • International Tax Consulting and Compliance
      • Non-Profit Planning and Compliance
      • State and Local Tax Consulting and Compliance
      • Tax Controversy Services & Legal Support Team
    • Tax Specialty Services
      • Corporate Tax Incentives Overview
      • California Competes Tax Credit
      • Cost Segregation Studies
      • Green Building Tax Incentives
      • IC-DISC Federal Export Tax Incentive
      • Repair vs. Capitalization Review
      • Research & Development Tax Credit
      • Transfer Pricing
    • Wealth Management
    • Employee Retention Tax Credit
      • Benefit Calculator
      • See If You Qualify
    • Restaurant Revitalization Fund Services
    • PPP Services
      • PPP Loan Management
      • PPP Loan Forgiveness
      • PPP Calculator
    • KROST Business Intelligence
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    • KROST Fund Admin Solutions
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  • Resources
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    • Webinar Education
    • KROST Quarterly
    • Tax Due Dates
    • Track Your State Refund
    • Track Your Federal Refund
    • Interactive Tax Tools
    • SafeSend Tutorial – 1040 User
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