Final regulations offer guidance for expensing depreciable assets
Article Abstract:
IRC section 179 final regulations clarify the ability to expense certain non-substantial depreciable business assets instead of capitalizing and depreciating the cost over time. Taxpayers can expense up to $10,000 per tax year through completing form 4562 and submitting a complete, itemized list of the assets being expensed. Eligible property must be used in an active trade; be tangible, depreciable and personal; and be purchased. The regulations specifically address applicability to S corporations and partnerships, unused expense deduction carryovers and taxable income limitations.
Publication Name: Taxes: The Tax Magazine
Subject: Business
ISSN: 0040-0181
Year: 1993
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Resolution of federal income tax controversies: new tools and a new attitude for a new economy
Article Abstract:
A panel discussion regarding innovative and cost-efficient methods of resolving federal tax controversies, held at the University of Chicago Law School's 53rd Annual Federal Tax Conference, is presented.
Publication Name: Taxes: The Tax Magazine
Subject: Business
ISSN: 0040-0181
Year: 2001
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A call for Congress to reconsider the current federal income tax treatment of software-related expenditures
Article Abstract:
The authors discuss the economic disincentive of tax laws regarding software-related expenditures and offer suggestions for change.
Publication Name: Taxes: The Tax Magazine
Subject: Business
ISSN: 0040-0181
Year: 2000
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