Taxpayers can realize significant benefits under the Tangible Property Regulations by identifying and removing building components that have been replaced or demolished by writing off and taking a loss upon the undepreciated basis. Valuing the cost of the replaced or demolished building component requires a careful understanding of these regulations. Alex Bagne coauthored an article for Bloomberg BNA on Dispositions of Tangible Property-IRS Restricts Use of Discount Value Approach. Click below view the article.
About the author
Alexander Bagne
President · JD, CPA, MBA, CCSP
Alex is the President of ICS Tax, LLC (ICS). His expertise includes fixed asset reviews, cost segregation, the 179D and 45L energy efficiency incentives, accounting methods, research tax credits, and IC-DISC export incentives. Prior to ICS, Alex worked for a decade with several Big Four firms, including Ernst & Young, Deloitte Tax, and PricewaterhouseCoopers. His specialized planning ideas have saved his clients millions in tax dollars. He has given Continuing Professional Education on a variety of tax planning ideas throughout the country. He is published in the AICPA's Tax Adviser magazine and Accounting Today.
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