The year of form 3115

[KEYWEST_RICKS]

Is anyone else feel real comfortable with all the new depreciation rules? 

 

I have been to one seminar this year and he mentioned nothing about Form 3115 form to change your accounting method for depreciation

 

however i have seen articles which state that every business will basically be required to file a Form 3115 since their prior method was not a permitted method.

 

i know there was a thread about this a few months ago but as we get closer to year end i am bringing it up again.

 

 

thanks for  any imput

 

jeff

 

[Margaret CPA in OH]

I'm with you.  I have been to 2 seminars that went into some detail and will attend another in a couple of weeks that includes this.  Nothing seems to be sticking in my brain as to exactly what to do.  I have just drafted a letter to appropriate clients going out this week that they may well be extended and we need to work together for data and decisions.  I am first working through my own this week.

 

I've never had to deal with 3115 before so it will be interesting!  And we thought the ACA was a challenge...  Maybe someone will come up with a neato chart about what to do with what as was done for ACA.