Surgent's Essential Depreciation and Expensing Update

Friday, July 08, 2022
Webcast or Webinar, Online
9:00 AM - 12:30PM (opens at 8:30 AM) EST
4Credits
Technical Business

Registration is 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.

Members
$159.00 Regular Price
Non-Members
$219.00 Regular Price
Course Type: Webcast
Course Code: 22/SUTDP409
Level: Intermediate
Vendor: Surgent
Field of Study: Taxes

Overview:

The "permanent" changes within the Tax Cuts and Jobs Act may stand like a lion in the pathway of change, but Washington has a different definition of the word "permanent." Inflation adjustments and technical corrections are included within this deep analysis of the complex maze of rules dealing with depreciation, amortization, and sale of property. With three major acts passed in less than 18 months (CARES Act, Tax Relief Act, and American Rescue Plan Act), this reference manual contains many examples and cases to illustrate the most important points of which CPAs need to be aware.

Objectives:

  • Fully understand two of the most commonly prepared tax forms
  • Understand assets from acquisition to disposition
  • Complete/discuss cases highlighting some of the practical issues tax preparers face

Major Topics:

  • Complete coverage of recent tax acts and any new legislation enacted before presentation
  • Resolved technical glitches for Qualified Improvement Property
  • Detailed coverage of §179 expense election and §168(k) bonus or “additional first-year depreciation” -- how to maximize them, definitions, limitations, what property qualifies, etc.
  • Sale of property and the depreciation recapture rules (§§1245, 1250, unrecaptured §1250 gain for real estate, §291 for corporations)
  • MACRS depreciation -- finding the proper method, convention, and recovery period
  • What is “listed property” and what are the current limitations?
  • Amortization of start-up, organization, and other expenditures
  • AMT depreciation adjustments and how to avoid them
  • Examples, cases, and rulings of depreciation and amortization issues and how they impact clients, along with the useful planning opportunities

Major Topics:

  • Complete coverage of recent tax acts and any new legislation enacted before presentation
  • Resolved technical glitches for Qualified Improvement Property
  • Detailed coverage of §179 expense election and §168(k) bonus or “additional first-year depreciation” -- how to maximize them, definitions, limitations, what property qualifies, etc.
  • Sale of property and the depreciation recapture rules (§§1245, 1250, unrecaptured §1250 gain for real estate, §291 for corporations)
  • MACRS depreciation -- finding the proper method, convention, and recovery period
  • What is “listed property” and what are the current limitations?
  • Amortization of start-up, organization, and other expenditures
  • AMT depreciation adjustments and how to avoid them
  • Examples, cases, and rulings of depreciation and amortization issues and how they impact clients, along with the useful planning opportunities

Designed For:

CPAs in industry and public accounting who need a thorough grasp of this important area of tax law and who want to maximize the possible tax savings for their clients

Prerequisties:

Basic knowledge of tax issues for property transactions
CPE sponsors

The Florida Institute of Certified Public Accountants (FICPA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBARegistry.org