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The final repair regulations apply to a huge range of taxpayers, resulting in new rules you need to know and fresh tax planning approaches you should implement. Gain a solid understanding of these new tax elections, accounting method changes and opportunity areas. Learn how repairs are defined in tax law, regulations and case law. Get guidance on how to distinguish between deductible repairs and capitalized costs, and how to apply the repair regulations to specific industry issues. Plus, find out how to properly prepare Form 3115 for a change in accounting method.
CPAs and tax advisers in public practice and those responsible for fixed asset tax accounting