Tangible Property Repair Regulations Webinar
The Final Tangible Property Repair Regulations are in full effect, yet many taxpayers are not in compliance or are missing opportunities to take full advantage of these new rules. This webinar covers compliance requirements as well as potential tax planning strategies on both a retroactive and prospective basis. The webinar also contains in-depth examples and real-life case studies. Participants will be better able to identify tax saving opportunities and be in compliance with these new regulations.
- Learning Objectives:
- Understand changes and new requirements presented by the final repair and disposition regulations, especially in the context of the 2015 tax year
- Identify new opportunities to immediately deduct abandoned building components, avoid recapture tax, and expense demolition costs
- Gain an in depth knowledge of Unit of Property rules
- Determine when to capitalize and depreciate expenditures and when to treat them as immediately deductible repairs and maintenance expenses
- Effectively use accounting method changes and elections under the repair regulations to maintain compliance and reduce tax obligations
- Identify opportunities for missed deductions and other tax planning ideas
- Repair Regulations Overview and Practical Considerations:
- Common changes in accounting methods and optional elections
- The De Minimis Safe Harbor and the $5,000/$500 thresholds
- The Routine Maintenance Safe Harbor
- Relief for Small Businesses
- Disposition rules
- Definitions of Betterments, Adaptations and Restorations with examples
- Rules for materials and supplies
|John Hanning, CCSP, MBA
Director, Repair Regulations
Course Code: RC 102
Cost: Free. CPE Credits: 2.0 hours. Type of Credit: CPE for CPAs.
Instructional Method: Group Internet Based. Subject Area: Taxes.
Course Level: Basic. Prerequisites: None. Advanced Preparation: None.
Who should attend?
This live webinar is designed for tax, accounting and other professionals in the real estate market.
Available Dates & Registration:
This program is offered at no cost, there will be no refunds issued. KBKG 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: www.learningmarket.org. For questions, more information, complaints, contact email@example.com.