Mobile Edition


Weighing in on the Section 179 SUV Deduction (ACW17917)

 
Date:Thursday, December 7, 2017
Time:1:00 PM - 3:00 PM
(Registration at 12:30PM)
Facility:Webcast or Webinar, Online
CPE Credit:2.0 Technical Business
Instructor: David R. Jenkins
Vendor:ACPEN
Course Level:Intermediate
Early Bird Price:$79.00 FICPA Members, $109.00 Non-Members

Description:

The Consolidated Appropriations Act of 2015 made permanent the Section 179 $500,000 expense limitation and $2 million phase-out amounts. The Act also extended Section 168(k) through at least 2019, reducing the 50% bonus depreciation to 40% in 2018 and 30% in 2019. However, the Act left the Section 280F Statutory/Regulatory anomaly unchanged. Taxpayers benefit from Treasury’s definition of the SUV weight limits for Section 179 100% depreciation and Section 168(k) bonus depreciation purposes.

 

Syllabus

Lesson 1.

Introduction

Lesson 2.

Consolidated Appropriations Act

Lesson 3.

Section 179 and 168(k) Comparisons

Lesson 4

The Section 179 SUV Deduction

Lesson 5

Conclusion

 

  • This course is approved by the IRS. The submission of a completed request form, found under the materials tab, is required for credit.



    Objectives:

  • Recognize correctly how the Consolidated Appropriations Act of 2015 made permanent amendments to Section 179’s 500,000 expense limitation and phase-out amounts

  • Recognize correctly important tax planning distinctions between Section 179 100% depreciation and Section 168(k) bonus depreciation  

  • Recognize the Section 280F statutory unloaded gross vehicle weight rating correctly refers to the vehicle’s curbside weight  

  • Recognize correctly the Section 280F Treasury Regulations changed the curbside weight standard to simply a gross vehicle weight rating standard  

  • Recognize correctly the IRS is bound by Treasury Regulations while the courts are not  

  • Recognize the Treasury Regulations’ curbside/GVWR anomaly presents possible late year tax planning opportunities 



    Major Topics:

  • The Consolidated Appropriations Act of 2015, Sections 124 and 143  

  • Important tax planning Section 179 100% depreciation and Section 168(k) bonus depreciation distinctions  

  • The Treasury Regulation’s transformation of a statutorily imposed curb side weight limit to a gross vehicle weight rating  

  • IRS is bound by the Treasury Regulation’s executive fiat



    Who Should Attend:
    *CPAs *Attorneys *Enrolled Agents

    Prerequisite:
    This webcast is an intermediate continuing education webcast. It is assumed the webcast participant has basic familiarity with Section 179 100% depreciation and Section 168(k) bonus depreciation.

    Advanced Preparation:
    None

    Session/Options

    If listed below, select the appropriate sessions or options to continue with your purchase.

    Registration Status: CLOSED - Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.