Business Services Industry
Most ISO 9000-related costs now deductible.(Brief Article)
Crain's Cleveland Business, April, 2000 by Grassi, Carl
A recent IRS ruling provides tax savings to businesses that incur costs to obtain and maintain ISO 9000 certification. Until now, the IRS appeared to require businesses to capitalize all their ISO 9000 compliance costs. Under the new ruling, costs incurred to obtain, maintain and renew ISO 9000 certification are deductible as ordinary and necessary business expenses, except to the extent that a long-term asset (such as a quality manual) is created.
ISO 9000 certification is a contract requirement in at least 98 countries, and for most U.S. government agencies. ISO 9000 is an international standard for quality management systems created by a worldwide federation of national standards organizations from 130 countries. The purpose of these standards is to...
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