Alert: Internal Revenue Service and U.S. Treasury Issue Final Capitalization Regulations

In September 2013, the IRS and U.S. Treasury issued final capitalization regulations. These revised regulations, under specified circumstances, permit business taxpayers to make safe harbor elections that would enable them to deduct expenditures that might otherwise need to be capitalized. The focus of this alert is on the de minimis safe harbor election and the requirement for taxpayers to have a written accounting policy in place not later than the first day of their tax year - January 1, 2014 for calendar year clients.

What amount is considered de minimis?

CAMICO’s Award Winning IMPACT

CAMICO’s policyholder risk management newsletter, IMPACT, recently received an APEX Grand Award for one of its articles on the “Top 10 Loss Prevention and Claims Questions.” In honor of that recognition we’re posting two of the questions and responses here on The Savvy CPA.

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Latest Articles

  • 16 Oct

    Disengaging to benefit your firm and the client

    Most CPAs — even those highly skilled at screening and bringing in new clients — will periodically encounter situations and client relationships that call for disengaging. While the subject of disengaging is typically thought of as (at best) unpleasant, disengaging can be a practice ma... read more

  • 11 Sep

    Report Potential Claims and Concerns as Early as Possible

    Contact your professional liability and employment practices liability insurance carrier or agent as soon as an issue comes up. Adverse consequences often come from CPAs taking action before consulting their risk advisers. Better safe than sorry.

    Here are some reasons why... read more

  • 14 Aug

    Cyber Claims Trends That Accountants Should Know

    Cyber claims trends have increased over the past year. CAMICO Mutual Insurance provides critical cyber coverage to accountants for cyber risks through an arrangement with NAS Insurance and explains the update on current cyber claims trends below.


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  • 09 Aug

    Protect Your Clients and Your Firm from Hackers

    With cyber-attacks and data breach incidents growing in frequency, it is critical to ensure that your firm has taken all reasonable measures to protect your clients and the firm from hackers.

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