New Repair Regulations: What Must Be Done in 2014 (WEBNAR11)

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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 25, 2014
Time:11:00am - 1:00pm (Registration at 10:30am)
City:** Online **
Facility:Webcast or Webinar, Online
CPE Credit:2 Technical Business
Instructor: E. L. Nichols
Vendor:Florida Institute of CPAs
Course Level:Update


On September 19, 2013 the IRS released Final Regulations that change the tax accounting for expenditures to acquire or repair tangible property - both real property and personal property. Most taxpayers will be required a Form 3115, no later than with their 2014 income tax return, to change at least some of their historic approach to deductible vs. capitalizable expenditures.

Virtually all taxpayers will make annual elections to take advantage of new "de minimis" rules permitting deductions of repair expenses without analysis of whether the expenditure might be capitalizable.


Join Lynn Nichols, CPA of Nichols Patrick CPE Inc., for a clear explanation of what these new rules mean to business organizations and how to elect new accounting methods.

Major Topics:

For many taxpayers, changing their method of accounting for Materials and Supplies, Scheduled Maintenance, and Building Repairs will enable significant tax deductions much earlier than under "old" rules. Two Revenue Procedures, Rev. Procs. 2014-16 and 17, modify the automatic method change Revenue Procedure (Rev. Proc. 2011-14) by adding a number of new automatic changes.

All taxpayers are expected to be in full compliance with these new rules by the end of their first tax year beginning on or after January 1, 2014.

Advanced preparation:


Information on how to log-on to the webinar, troubleshooting, and contact information will be included with your registration confirmation.
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Regular Price: $75 FICPA Members, $95 Non-Members

Wednesday, June 25, 2014
General Sessions