Be sure to sit down and talk to your CPA about scrubbing your depreciation schedule and filing a Form 3115 and making partial disposition election

why is small business owners in quotes?

quote:

---

Can you repeat this in English?

---

So how do I count all of the money I keep in my mattress and/or "spending money jar"?

quote:

---

Be sure to sit down and talk to your CPA about scrubbing your depreciation schedule and filing a Form 3115 and making partial disposition election

---

Why?

quote:

---

buy an add

---

Holly actually would be the perfect sponsor for the GB

Partial disposition? Even if I've already escalated and arbitrated my comped 3098? If anything, I was thinking that I need more 245a and prentesters, right?

An example of too much government bureaucratic crap:

A partial disposition election can benefit taxpayers who have disposed of a portion of an asset but are continuing to depreciate that asset. As illustrated
in the examples below, the partial disposition election will allow them to
change from depreciating the asset to recognizing gain or loss on that
disposition.Example: ABC Company, a calendar year taxpayer, acquired and placed in service a truck in 2009. The truck is described in asset class
00.242 of Rev. Proc. 87-56. ABC depreciates the truck under MACRS and does not
reasonably expect to replace the engine of the truck more than once during its
class life of six years. The engine is a major component of the truck. In 2012,
ABC replaced the engine of the truck and applied Reg. Sec. 1.168(i)-8T and Reg.
Sec. 1.263(a)-3T for its 2012 tax year. Because the truck is the asset for
disposition purposes, ABC did not recognize a loss on the retirement of the
engine and continues to depreciate the original engine. Further, ABC capitalized
the new engine as an improvement, classified the new engine under asset class
00.242 of Rev. Proc. 87-56, and is depreciating the new engine under MACRS. ABC
decides to apply Reg. Sec. 1.168(i)-8 (the final regulation issued in August on
accounting for dispositions of MACRS property) beginning with its 2013 tax. ABC
also decides to make the late partial disposition election for the truck's
original engine that ABC retired in 2012. Although the truck is the asset for
disposition purposes, the partial disposition results in the retirement of the
engine being treated as a disposition. Thus, in accordance with Rev. Proc.
2014-54, ABC may file a Form 3115 with its 2013 federal income tax return to
make the late disposition election for the engine and change from depreciating
that original engine to recognizing a loss upon its retirement.

big tits in cow town, we'll all dance around

quote:

---

Aw, but I was gonna go into Tosche Station to pick up some power converters!

---

Should've put em on layaway. Now you're just gettin treated like a scruffy nerd herder.

Billy's Video

quote:

---

Be sure to sit down and talk to your CPA about scrubbing your depreciation schedule and filing a Form 3115 and making partial disposition election

---

You're so hot

quote:

---

quote:

---

buy an add

---

Holly actually would be the perfect sponsor for the GB

---

How much would said sponsorship cost??

don't know. surely they'd cut a deal though since they haven't had anyone willing to be a GB sponsor in years.

Holly, what the f*** is the original poster talking about?

quote:

---

Holly, what the f*** is the original poster talking about?

---

Isn't your firm requiring all your clients to put Capitalization policies in writing regarding de minimis safe harbor elections for materials and supplies?

We are also attaching De Minimis Safe Harbor elections on all returns and filing for automatic change in accounting policy to dispose of assets that are gone now (for example roofs that are replaced.)

Safe harbor erections? Wtf?

Huh???

quote:

---

Be sure to sit down and talk to your CPA about scrubbing your depreciation schedule and filing a Form 3115 and making partial disposition election

---

I know we have to do this and no idea what it even means

sounds like crap accountants and lawyers came up with to ensure more billable hours.