In this case the taxpayer, a doctorsâ office, displayed various pieces of art in its offices, claimed depreciation on said artwork, which the IRS disallowed. At trial the IRS argued that the works of art did not have a useful life, based on Revenue Ruling 68-232.
A reduction in HAPU incidence by just 1 percentage point (3.5% to 2.5%) results in potential savings of $1,305,000 per year. Calculate your own potential savings below.
Year 2 â. Itâs important to continue saving at least $100 each month. Use your regular paycheck for living expenses and save any extra money you make from the ideas on this website. Once youâve reached year 2, youâve saved nearly $1,000.At this point, my suggestion would be to open an IRA.tâs important to continue saving at least $100 each month. Use your regular paycheck for living expenses and save any extra money you make from the ideas on this website. Once youâve reached year 2, youâve saved nearly $1,000. At this point, my suggestion would be to open an IRA.