Background Historically, regulations have been unclear with interpreting when an expenditure made with respect to tangible property may be deducted as a repair expense or must be capitalized as an improvement and depreciated over time. In an attempt to clarify the rules, the IRS has finalized mandatory regulations, commonly referred to as the “repair regulations”, […]
Month: July 2015
Announcing New Industry Service Line
As you may know, the Public Company Accounting Oversight Board (“PCAOB”) has authority over the financial statement audits of public companies and broker-dealers. CPA firms performing audits of public companies and/or broker-dealers are required to be registered with and subject to inspection by the PCAOB. In addition, registered investment advisors (“RIA”) with custody (or deemed […]