In addition to paying sales tax on the things you buy, you may also be required to pay taxes on its perceived fair market value later on. These personal and business taxes are assessed on certain ...

Tangible personal property – that is, property (other than land or buildings) that you can see or touch – is a special asset class in many estates. A client’s tangibles include their jewelry, clothing ...

The Tax Cuts and Jobs Act of 2017, which went into effect Jan. 1, 2018, is the most comprehensive federal tax changes in a generation. The Act will have a major impact on estate tax planning going ...

The IRS issued the Tangible Property Regulations (TPR) in 2013 and many taxpayers overlooked or didn’t pay much attention to them. Now businesses are catching up, realizing TPR offers significant ...

In late 2013 the IRS published T.D. 9636, which contained final regulations under Secs. 162(a) and 263(a) that provide the rules regarding when costs incurred to acquire, produce, or improve tangible ...

IMGCAP(1)]The IRS’s recent Audit Techniques Guide for the Tangible Property Regulations can help business taxpayers avoid problems with IRS examiners in interpreting the 2014 regulations on how to ...

LINCOLN, R.I. (WPRI) — R.I. Senate leadership is backing legislation this year to create a statewide tangible property tax exemption of $100,000, which analysts estimate would eliminate the unpopular ...

Among the more welcome changes adopted in the final tangible property repair regulations (T.D. 9636) is the de minimis rule related to the acquisition or production of property (Regs. Sec.