Final tangible property regs – What can be expensed and what must be capitalized?

Description

Abstract: When it comes to many of the expenditures related to tangible property, whether a business can expense or must capitalize hinges on the difference between a “repair” and an “improvement.” New, final IRS regulations provide guidance to help businesses make this determination. This article discusses some of the details, while a sidebar notes the evolution of the regulations up to this point.