I recently wrote a letter to clients regarding the IRS issuing long-awaited Regulations on the tax treatment of amounts paid to acquire, produce, or improve tangible property. The Regulations explain when payments can be deducted, which payments confer an immediate tax benefit, and when payments must be capitalized. These are important changes in the federal law that will affect every business.
To read the full letter with more details and required next steps, please click here: http://www.msllc.com/company/news-events/federal-law-change-affecting-businesses
"If you don't have time to do it right, when will you have time to do it over?" - John Wooden