SAN MATEO, Calif.--(BUSINESS WIRE)-- CAMICO (www.camico.com), the nation’s largest CPA-focused program of insurance and risk management for the accounting profession, has been named the exclusively endorsed provider of professional liability and employment practices liability insurance for The Kansas Society of Certified Public Accountan
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 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.