Posted on Aug 7, 2014
The IRS has issued regulations intended to clarify for businesses which costs related to fixed assets must be capitalized and which can be expensed currently. Included in the regulations are several safe harbors that make the capitalize-or-expense decision easier for small businesses. If your company owns or leases fixed assets, contact us for assistance in applying the rules to your business.
Gilliland & Associates, PC is a full-service CPA firm specializing in tax planning for individuals and businesses in the Northern Virginia area. We are based in Falls Church, VA and also service clients in the McLean and Tysons Corner, VA. Gilliland & Associates specializes known for our superior knowledge and aggressive interpretation and application of tax laws, we help you keep more of your earnings by finding you the lowest possible tax on your business or personal tax return. You can connect with us on Google+ <https://plus.google.com/108764776146415485651/posts> , LinkedIn <http://www.linkedin.com/in/gillilandcpa> , Facebook <https://www.facebook.com/gillilandcpa> , and Twitter <https://twitter.com/dnggcpa>