More about Mohit.Nayyar@claconnect.com
Mohit is a certified public accountant with over 13 years of experience specializing in food and beverage, agricultural, and cooperative space. His experience includes serving a broad variety of private and public companies including C and S corporations, multi member/partner partnerships, multigenerational family-owned businesses, multi-state manufacturing/distribution entities, and private equity agriculture ventures.
Blog Posts by Mohit.Nayyar@claconnect.com:
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Large cattle ranchers/dairies may qualify for immediate expensing of cost to raise calves.
When I talk to large ranchers/dairies who are on accrual basis of accounting and do not qualify as a small business, they assume that they are subjected to the UNICAP rules under 263A and needs to capitalize cattle/cows and depreciate cattle/cows instead of expensing or treating as inventory. This presumption is partially correct, if the […]
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Research and Experimental expenditure required capitalization
Prior to 2022, not much thought was given to the treatment of research and experimental (R&E) expenditures under IRC 174 and the companies usually will deduct these costs as incurred. There was an option to capitalize these costs and amortize over 5-year period but none of the clients I had worked for capitalized R&E expenditures […]
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Time to consider farming election under IRC § 163(j)?
As Paul noted in his post, he has officially retired from CLA and passed the baton to his CLA family. Carrying out the work that Paul started is a tough task, he is an ICON, and I will do my best to follow in his footsteps. As a quick introduction, I am a signing director […]