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IRS Issues “Repair Regulations”

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.

For assistance with this or other tax or accounting matters please contact us at 201-947-8081 or 646-688-2807, or email us at info@bergencountycpa.com.

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