Taking advantage of repairs and maintenance opportunities in the restaurant industry

On Sept. 13, 2013, the IRS and Treasury Department released final regulations providing guidance regarding the deduction and capitalization of expenditures related to tangible property (commonly known as the repair and maintenance regulations). The final regulations will affect all taxpayers that acquire, produce, or improve tangible property, specifically restaurant owners and operators.

This program covers the new rules within the final regulations as well as practical considerations and planning opportunities for the restaurant industry, including:

  • Changes to the capitalization standards
  • Extension of the routine maintenance safe harbor for buildings
  • Revised and simplified de minimis safe harbor
  • New safe harbor for small taxpayers
  • Proposed partial dispositions regulations

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