Ideas & Insights

Procedures provide guidance for the retroactive expensing of qualified improvement property and reconsidering of elections.

Immediate and retroactive expensing of qualified improvement property creates tax saving opportunities for taxpayers.

New proposed regulations provide helpful examples of business entertainment and meals deductions still permissible after TCJA restrictions.

The IRS issued interim guidance on the deductibility of certain business meal expenses that are related to entertainment activities.

Changes to excise tax and regulatory requirements related to craft beverages provides significant savings, potential for industry growth.