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Tangible Property Regulation Consulting Services

CPA Firms click here for more information on B&R’s TPR Tools and Templates© to assist your firm in complying with the regulations.

The new tangible property regulations are the most dramatic changes in tax law to affect for-profit businesses since the overhaul of the Internal Revenue Code in 1986. The final regulations were released in September 2013, and greatly varied from the temporary TPRs issued in 2011.

These changes will affect the majority of for-profit taxpayers and complying with the new regulations will be challenging for businesses that are unprepared. At Boyer & Ritter, our TPR consulting services team can assure your business complies with the new rules while also taking advantage of new benefits.

TPR Consulting Services

The accounting method changes are rigorous, and the rules written by the IRS are often unclear. To assure compliance with the new rules and to gain the best available advantages makes prompt evaluation essential. If your business is not yet in compliance with the new TPR rules and regulations, Boyer & Ritter can evaluate your accounting methods, recommend modifications, complete necessary forms, and more. As a requirement of these TPRs, most taxpayers will have to:

  • Modify their internal processes to comply with these new rules, and
  • File one or more applications for accounting method changes (IRS Form 3115) for their 2012, 2013, and/or 2014 tax years. In fact, it is anticipated that each business taxpayer may have to file several different 3115’s.
  • Elect three new elections annually in order to deduct certain expenditures, rather than capitalize or continue to depreciate prior assets.

Our TPR Group can help your for-profit business:

  • Review current capitalization policies and recommend modifications to existing policies or creation of a new policy
  • Analyze tax depreciation for tax deductions of prior capitalized assets
  • Prepare IRS Form 3115
  • Understand the new TPR rules and regulations and how they apply to your for-profit business

Schedule A Consultation

Boyer & Ritter has developed several resources to assist client companies and CPA Firms in the implementation of these regulations.  View more information on B&R’s TPR Tools and Templates©.

Schedule a Consultation With Boyer & Ritter

If your business TPR compliance help, schedule your consultation by contacting our team today.  If you are a CPA firm looking for tools and templates to help your clients, visit our TPR Tools and Templates website for more information.