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What is "TPR" and What You Need to Know: Indian Valley Chamber of Commerce Business Builder Seminar

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We first wrote about TPR -- “Tangible Property Regulations” -- last year, sharing how this change in for-profit tax law created unique and unprecedented challenges during the January-April 2015 tax season. In fact, despite it being called it the "most dramatic change to for-profit tax law since the 1986 overhaul" nearly two-thirds of tax preparers didn't even know about it.

TPR affects the three main areas of business operation: Materials and Supplies, Repairs and Maintenance, and Capitalized Expenditures. These changes are very favorable to the taxpayer, adopting a much more liberal definition of “repair” and a stricter definition of “capital assets.” This allows many more items to be expensed immediately as repairs or maintenance vs. the previous requirement that they be capitalized and written off (depreciated) over a number of years.

Learn more about TPR and how it affects your business on Wednesday, February 1, 2017, when Canon Capital’s Brent Thompson will present on the topic at the Indian Valley Chamber of Commerce’s Business Builder Breakfast, held at the Franconia Heritage Banquet and Conference Center. Breakfast is served at 7:30 a.m. with the seminar following 8:00 a.m. – 9:00 a.m. Cost is $30.00 per person for Indian Valley Chamber of Commerce members; $45 for non-members. Register online.

As always, if you have questions about how TPR affects your business, we are happy to help. Contact us or call 215-723-4881.

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