Is that cost currently deductible or must you capitalize it? Presenter, Jonathan Olson, will discuss the impact new IRS temporary regulations will have on the construction industry, identify opportunities for expensing repairs, materials and supplies, and highlight those expenditures which are required to be capitalized.
After This Session, You Will Be Able To:
Maximize expensing opportunities for materials and supplies, rotable and temporary spare parts;
Apply an elective de minimis rule to your business operations;
Explain the rules related to the acquisition or production of real or personal property;
Define a â€œunit of propertyâ€ for capitalization purposes in the construction industry;
Determine when an expenditure might be considered a betterment, thereby requiring capitalization;
Apply the capitalization rules to the real estate used in running your business.
CPA, MBT, Tax Partner, Construction and Real Estate Group, CliftonLarsonAllen LLP