Help  |  Pay an Invoice  |  My Account  |  CPE Log  |  Log in

22WC-0633: Expense vs. Capitalize: Getting It Right for Taxes (Webinar)

If you have questions about this event, please call us at 952-831-2707.

Thursday, September 29, 2022
10:00am - 5:30pm Central Time
8 CPE (8 technical)

Is an expenditure associated with tangible property deductible or must it be capitalized? Learn the 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 capitalization 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 highlights issues involving what must be capitalized, what can be treated as a repair, and items related to depreciation of fixed assets.

Major subjects

  • General rules for expensing vs. capitalizing
  • Capital expenditures
  • Payments to acquire assets
  • Depreciation and section 179 election
  • Payments to improve property
  • Provisions that override capitalization rules
  • Repairs
  • Accounting methods

Learning objective(s)

  • Apply capitalization rules in general
  • Identify exceptions for materials and supplies
  • Account for costs associated with notable spare parts
  • Apply "de minimize rules for entities with and without an applicable financial statement
  • Determine amounts considered "spent to acquire tangible property
  • 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
  • Determining property that qualifies for Section 179 expensing treatment
  • Applying cost recovery rules

Who should take this program?

CPAs, accountants, and financial professionals who advise clients and/or prepare tax returns dealing with expenditures to repair, improve, or acquire tangible property. May also be suitable for public practice.

Fees

Our records indicate you are a nonmember. If you register, you will be charged $389.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.
Standard Member Fee $289.00
checkmarkStandard Nonmember Fee $389.00

More program information

Instructor Ini Adesanya
Location Online
Area
of study
Taxation
Field(s)
of study
Accounting - Technical (2.0)
Taxes - Technical (6.0)
Level Intermediate
Format Group Internet Based
Sponsor CalCPA Education Foundation
NASBA ID#: 104822
Prerequisites Prereq. General construction accounting and tax knowledge
Advance
prep
None
Cancellation
policy
Receive a full refund if you cancel at least four business days before the event start date. Learn more

Not a member? Join the MNCPA to start saving on CPE and accessing members-only benefits.

Search CPE catalog

If you have questions about this event, please call us at 952-831-2707.