Guide to Tax Depreciation, Expensing and Property Transactions

193  |  Course  |  Intermediate  |  Scheduled

Description

A Live Stream version of this event is available here.

The "permanent" changes within the PATH Act of 2015 did not stand like a lion in the pathway of change. The Tax Cuts and Jobs Act of 2017 reminds us that Washington has a different definition of the word "permanent." Again this year Congress has drastically changed depreciation rules. The purpose of this course is to provide an updated, in-depth analysis of the complex maze of rules dealing with depreciation, amortization and sale of property. This reference manual contains many examples and cases to illustrate the most important points CPAs need to be aware of.

Credits

Number of Credits Type of Credits
8.00 Taxes
6.75 CLE

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

Prerequisites

Basic knowledge of tax issues for property transactions

Highlights

  • Complete coverage of recent tax acts and any new legislation enacted before presentation
  • Luxury automobiles, how much this year, and where did these rules come from?
  • Glitch in TCJA luxury automobile depreciation, including anticipated technical correction
  • What are the components for real estate depreciation?
  • A new SUV or sedan, a study of depreciation alternatives
  • Permanency in 179 depreciation rules? How to maximize its use; when to use it; what property qualifies?
  • Sale of property and the depreciation recapture rules (1245, 1250, unrecaptured 1250 gain for real estate, 291 for corporations)
  • How to depreciate like-kind exchange property
  • Reacquired installment sale property - calculating potential gain and new basis
  • Regulations on capitalization of tangible assets and procedures for automatic changes in accounting method associated with the new depreciation rules
  • Understanding 197 amortization issues; how to handle intangible asset costs
  • Depreciation issues, tax-deferred exchanges, personal property converted to business property and overview of home sale exclusion
  • Guide for compliance and planning issues from pre-ACRS, ACRS and MACRS depreciation and amortization rules
  • Cases and rulings of depreciation and amortization issues and how they impact clients, along with the useful planning opportunities

Objectives

  • Understand which assets are subject to depreciation
  • Answer advanced 179 and automobile depreciation questions
  • Fully understand depreciation and MACRS cost recovery
  • Understand installment sales and reacquisitions
  • Complete cases related to nontaxable transactions

Prices

Member (Early Bird)
$295.00
Non-Member (Early Bird)
$395.00
Member
$345.00
Non-Member
$445.00
Your Price: $395.00

This is your base price and does not reflect any additional session fees, optional add-ons, or guest registrations. Early Bird rates will be applied to all registrations made prior to October 5, 2019.

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$25.00

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Instructors

Michael A. Frost, CPA

Mike Frost, CPA, of Albertville, Alabama, provides tax consulting, continuing education, and motivational speaking services through his company, Mike Frost Enterprises. Mike is a former shareholder of MDA Professional Group, PC, where he managed the tax department of the Albertville office.

Mike has 27 years of experience in public accounting, including but not limited to: Business and individual income tax preparation and planning; mergers and acquisitions; estate, gift, and trust tax preparation; small business consulting; Medicare planning and other elder care; audit representation; and religious groups and clergy.

Mike has conducted CPE engagements and seminars throughout the United States and has served as technical advisor for tax articles in The Sand Mountain Reporter, a local newspaper. Mike has been a featured presenter at the Alabama Society of CPAs Annual Meeting and the Federal Tax Clinic held annually at the University of Alabama in Tuscaloosa.

Mike graduated with "high honors and distinction" from Jacksonville State University with a major in accounting and a minor in finance and a 4.0 GPA. He is a member of the American Institute of Certified Public Accountants and the Alabama Society of Certified Public Accountants. In addition, he is a graduate of the Tax Planning and Advising for Closely Held Businesses Certificate of Educational Achievement Program sponsored by the AICPA.

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