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Friday, July 14, 2023 Live Webcast

Depreciation Rules for Bonus and Section 179 Expensing Webinar (X1-DRBE-2023-01-WEBNR-195-01)

10:00 AM - 12:00 PM EDT
webcast

Vendor Platform

2 CPE Credits in TX

OVERVIEW

Explore the impact of new laws on commercial real estate owners and delve into what CPAs need to know.

DESIGNED FOR

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

BENEFITS

  • 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

HIGHLIGHTS

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 addition to exploring the impact of these important laws, we’ll also examine 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 in 2021 and will discuss a strategic hierarchy for employing those strategies most successfully. Relevant Rev. Procs. and multiple real-life case studies will be reviewed.

Topics include:

  • 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 

COURSE LEVEL

Basic

PREREQUISITES

A basic understanding of the tax rules relating to individual income tax

ADVANCE PREPARATION

None

INSTRUCTOR

Michael Tucker

Michael J. Tucker, CPA, Ph.D., J.D., LL.M.

Ph.D., JD, CPA

Professional Education Network

Michael J. Tucker is an employee of Surgent McCoy CPE, LLC and a consultant for the accounting firm of T.M. Byxbee Co. in Hamden, CT. He is the author of many professional articles and a veteran TV and live-seminar presenter. In addition, he heads up Surgent McCoy's webinar efforts, where he writes and hosts many of the webinars Surgent McCoy sponsors and presents. Mr. Tucker was a professor at Quinnipiac University in Hamden, CT and worked with KPMG Peat Marwick and Deloitte & Touche. Mr. Tucker received his J.D. from New York University, his LL.M. from Georgetown University Law Center, and his Ph.D. from the University of Houston.

PRICING

$89.00 - Member

$109.00 - Nonmember

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

Print a registration form

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COURSE DEVELOPER

Surgent

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