Dealerships Partner, Christopher F. Beaulieu authored the letter“Deducting Amounts Paid to Acquire, Produce, or Improve Tangible Property”.
Clifton Larson Allen Dealership is one of the nation’s largest public accounting and consulting firms. They serve the commercial truck and trailer industry. They posted this letter on their website for dealers to read and it provides information about handling tangible property.
This letter concerns an IRS-issued guidance from December 23, 2011 and covers whether or not businesses can deduct or must capitalize amounts payed for tangible property.
Capitalize & Improve Tangible Property letter:
Click here to read the letter on their site.
