On September 13, 2013, the Department of the Treasury and the Internal Revenue Service filed with the Federal Register the final tangible property regulations (T.D. 9636). The final regulations provide guidance for taxpayers in determining whether a taxpayer must capitalize costs incurred in acquiring, maintaining, or improving tangible property under sections 162(a) and 263(a).
For the last six years, Accounting Today and Best Companies Group has named Smith Leonard PLLC as one of America’s “Best Accounting Firms to Work For.” The annual List of Best Accounting Firms comprises 100 firms throughout the nation in three different size categories.
According to our latest survey of residential furniture manufacturers and distributors, new orders in August 2013 were 9 percent higher than August 2012. This result was pretty much in line with much of what we had heard up through the end of August. August 2012 orders were 8 percent higher than August 2012 so we were comparing to some pretty good results in the previous year.