Final repair and maintenance regulations: New rules, new opportunities

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).

Since the final regulations will affect all taxpayers that acquire, produce, or improve tangible property, Baker Tilly recently hosted a webinar covering the new rules within the final regulations as well as practical considerations and planning opportunities. The discussion included:

  • 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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