Written by Reed Tinsley |
July 21, 2008
Final and temporary regulations have updated the rules for deducting start-up expenditures under IRC Sec. 195, organizational expenditures of corporations under IRC Sec. 248 , and organizational expenses of partnerships under IRC Sec. 709 , to reflect changes by the American Jobs Creation Act of 2004. Because of the various electronic filing initiatives and the fact that most taxpayers elect to deduct these costs, taxpayers are no longer required to file a separate election statement to deduct these costs.
About the Author
Reed Tinsley CPA
This article is written by Reed Tinsley, a Houston, TX-based CPA with over 30 years of experience advising physicians and medical practices across Texas and the United States. Reed holds certifications as a Certified Valuation Analyst (CVA), Certified Healthcare Business Consultant (CHBC), and Certified Financial Planner (CFP), specializing exclusively in the healthcare sector. He is a published author, nationally recognized speaker, and trusted advisor to physicians on
accounting & tax,
practice management, and
financial planning.
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