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.
1 For example, a 5 pound unit will cost around $35, while a 10 pound unit can cost upwards of $60. 2  For example, the fire station in Fridley, Minnesota, allows residents to drop their fire extinguishers off for a recharge. 3  Their fees range anywhere from $9 to $19 depending on the size of the extinguisher.