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This seminar discussed in
detail the underlying problems and issues in applying the cost
capitalization rules to dealerships whose activities and
operations fall beyond the scope of the Rev. Proc. 2010-44 safe
harbor elections.
Topics included …
· The “Simplified resale method” … What is required, what
is not, and why it is likely that most dealerships currently are
not properly meeting the requirements of the Regulations
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IRS TAM 200736026 … “The document of doom.” What
if a portion of the dealership’s activities are NOT
“covered by the TAM?” What does that mean? … What the TAM says
and doesn’t say. If positions are taken that are different from
the IRS conclusions the TAM, what might be the consequences?
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How does the use of LIFO to
value inventories affect the computation of the Section 481(a)
adjustment? Various alternatives
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Removing labor costs and capitalized gross profit on parts with
respect to the “reseller with production activities” safe harbor
election … Pros and cons … Is it practical to complicate the
Section 481(a) adjustment over this?
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Expanded time for Q&A … You’re welcome to e-mail questions in
advance of the seminar to
cpawjd@aol.com |
Contact Information