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22WS-1267: Surgent's Depreciation Rules for Bonus and Section 179 Expensing (Webinar)

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

Date Wednesday, December 21, 2022
Time 12:00pm - 2:00pm
Central Time
Location Online
CPE credits CPE 2.0
Field(s)
of study
Taxes - Technical (2.0)
Specialty
credits
2.0 IRS CE approved
Instructor Michael Tucker, PhD, LLM, JD, CPA
Surgent
Fees
Standard Member Fee $99.00
Standard Nonmember Fee $99.00

Description

The Tax Cuts and Jobs Act of 2017 has had a tremendous impact on commercial real estate, including liberalizing the depreciation provisions. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) included several provisions that allow taxpayers to revisit projects completed in earlier, more profitable years, and generate even more value. In this webinar, we will explore the impact of these important laws on commercial real estate owners and delve into what CPAs need to know. We'll also examine these opportunities to "turn back the clock," including the retroactive correction of QIP's recovery period and the option to revoke electing-out of the business interest limitation. Finally, we will review other strategies that are crucial parts of a comprehensive tax plan this year and will discuss a strategic hierarchy for employing those strategies most successfully. Relevant Rev. Procs. and multiple real-life case studies will be reviewed.

Who should take this program?

Tax practitioners who anticipate advising clients with respect to depreciation of business property

Major subjects

  • Bonus depreciation for acquisitions and construction
  • History of qualified property categories and QIP
  • The CARES Act and related Rev. Procs.
  • Section 179 expensing
  • Energy incentives
  • The tangible property regulations
  • 1031 exchanges
  • Strategic hierarchy

Learning objective(s)

  • Understand the crucial provisions of the PATH Act, TCJA, and CARES Act
  • Explain the implications of the CARES Act's correction of QIP recovery period
  • Understand the value of QIP as an indicator of Section 179-eligible property.
  • Explain how strategies like Section 179 expensing, bonus depreciation, the tangible property regulations (TPRs), and Energy Incentives all contribute to a modern comprehensive tax strategy
  • Understand the significance of the business deduction limitation and why taxpayers may choose to revisit that election under Section 163(j)
  • Recognize how previously completed projects may be leveraged for additional value
  • Use various tax strategies in a strategic manner to maximize cash flow

Notes:

Course code Code 22WS-1267
Sponsor Surgent
NASBA ID#: 103212
Level Basic
Format Group Internet Based
Prerequisites Prereq. A basic understanding of the tax rules relating to individual income tax
Advance
prep
None

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