Comments on: Small Businesses and the New Sec. 263 Repair Regulations https://evergreensmallbusiness.com/small-businesses-and-the-new-sec-263-repair-regulations/ Actionable Insights from Small Business CPAs Thu, 27 Aug 2020 20:11:08 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Steve https://evergreensmallbusiness.com/small-businesses-and-the-new-sec-263-repair-regulations/#comment-1961 Mon, 06 Jul 2015 17:21:12 +0000 http://evergreensmallbusiness.com/?p=996#comment-1961 In reply to Drenda.

Hi Drenda,

We don’t have example 3115s for every DCN… sorry. Note that we were practically constrained by file size limits. Ugh.

Steve

]]> By: Drenda https://evergreensmallbusiness.com/small-businesses-and-the-new-sec-263-repair-regulations/#comment-1960 Thu, 02 Jul 2015 21:24:21 +0000 http://evergreensmallbusiness.com/?p=996#comment-1960 We have purchased your ebook which has been helpful. Have you completed a 3115 with a DCN 7? If so could you provide a sample?

]]> By: Steve https://evergreensmallbusiness.com/small-businesses-and-the-new-sec-263-repair-regulations/#comment-1959 Thu, 02 Jul 2015 19:18:45 +0000 http://evergreensmallbusiness.com/?p=996#comment-1959 In reply to Pedro Contreras.

In order to get automatic consent, you needed to file the 3115 with the original return.

Here’s an irs website page that provides this information and a bit more detail: http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Tangible-Property-Final-Regulations#Whenandhowdoyouchange

Read the paragraphs under the heading: When and how do you change a method of accounting to use the final regulations?

]]> By: Pedro Contreras https://evergreensmallbusiness.com/small-businesses-and-the-new-sec-263-repair-regulations/#comment-1954 Sun, 28 Jun 2015 15:44:46 +0000 http://evergreensmallbusiness.com/?p=996#comment-1954 What if I already filed a 2014 return? Should I amend the return? Can I just file the form 3115? Do I have to amend the return even if the accounting change causes no change to my retained earnings?

]]> By: Steve https://evergreensmallbusiness.com/small-businesses-and-the-new-sec-263-repair-regulations/#comment-1310 Wed, 19 Nov 2014 19:48:10 +0000 http://evergreensmallbusiness.com/?p=996#comment-1310 In reply to JohnG.

Technically yes. In practice, I would think the safe harbors mentioned probably mean home office users don’t need to worry much.

]]> By: JohnG https://evergreensmallbusiness.com/small-businesses-and-the-new-sec-263-repair-regulations/#comment-1308 Wed, 19 Nov 2014 05:46:42 +0000 http://evergreensmallbusiness.com/?p=996#comment-1308 Will this affect home-based businesses or business use of home?

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