New Repair Regs: Sec. 263(a) (NRR00)

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REGISTRATION STATUS: CLOSED - Online registration for this course is now closed. Please contact the Member Service Center at (850) 224-2727 or (800) 342-3197 if you wish to inquire about registering.

Date:Wednesday, June 18, 2014
Time:8:30am - 4:30pm (Registration at 8:00am )
Facility:Rosen College of Hospitality, Orlando
CPE Credit:8 Technical Business
Instructor: Randy Newton
Vendor:Nichols Patrick CPE, Inc.
Course Level:Intermediate

Is an expenditure associated with tangible property deductible or must it be capitalized? Learn new rules for treatment of amounts paid to acquire, produce, repair, or improve tangible property and proper accounting for dispositions of property subject to depreciation. The new regulations provide objective standards and bright-line rules intended to simplify compliance with the capitalization provisions contained in section 263(a) of the Internal Revenue Code. This program provides comprehensive analysis of the new rules, and an explanation of how your clients might benefit from some automatic changes in accounting methods. From repair of a machine in a factory to acquisition of an apartment building, property transactions are affected by these new rules.

This course covers New Regulations under Code Sections 162, 167, 168, 263(a) and 263A; Revenue Procedures 2012-19 and 2012-20; Information Releases, Announcements and other IRS guidance

Major Topics:
  • Apply capitalization rules in general
  • Identify exceptions for Materials and Supplies
  • Account for costs associated with Ratable spare parts
  • Apply “De Minims” rules for entities with an “applicable financial statement”
  • Identify improvements to tangible property; Unit of property definitions, including special rules applicable to real property; Leased property rules for lessees and lessors; Routine maintenance safe harbors
  • Determine what is a “betterment” of property
  • Recognize and capture costs of restoration of property
  • Definition of adapting a property to a new or different use
  • Change accounting methods to comply with or take advantage of the new rules

Who Should Attend:
CPAs who advise clients and/or prepare tax returns dealing with expenditures to repair, improve, or acquire tangible property.



FICPA Seminar EZMaterials! Instead of picking up paper manuals at the event, you’ll be able to download the EZMaterials as searchable PDFs to your laptop, tablet or other device seven days before the event. For an additional fee you may choose to purchase a hardcopy of the seminar manuals. If requested during registration at least eight days prior to the course, your hardcopy will be available for pickup at the event. Click here for more information.

Regular Price: $340 FICPA Members, $465 Non-Members

Wednesday, June 18, 2014
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