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.

Analysis, Expense deductions, Depreciation

---

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.

Management, Tax administration and procedure, Tax administration, Beliefs, opinions and attitudes, Panel Discussion, Langdon, Larry R., Louthan, Thomas C., Borders, Thomas C., Aland, Robert H.

---

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.

Prepackaged software, Computer Software, Software Publishers, Software, Taxation, Tax deductions

Similar abstracts:

• Abstracts: Proposed Regulations on Qualified Nonrecourse Financing Help Clarify Open Issues. Washington Tax Watch - Joint Committee on Taxation Issues Proposals on Subchapter K
• Abstracts: Trials of a fair and worthy man. Brewing up a storm. In a spin
• Abstracts: A special class of investor. Feeling the squeeze. Figures of funds
• Abstracts: Internet play ready for take-off. Encuring long-term profitability. The long, hard road of Manny Pangilinan
• Abstracts: Merrill Lynch makes it twice in a row. IPOs: new rules in Hong Kong. The fox and pounds

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.