Events Search
  Summary & Check Out (0)
Monday, October 26, 2020 Webcast

Taking Advantage of Installment Sales and Like-Kind Exchanges (X1-ISL4-2020-01-WEBNR-300-01)

1:00 PM - 4:30 PM EDT
webcast

Webcast

4.0 CPE Credits in TX

OVERVIEW

When real property is sold for a gain, we always try to find ways to defer recognizing income so it won’t be necessary to send a check to Uncle Sam. There are two provisions within the Internal Revenue Code that allow the taxpayer to defer recognition of immediate taxable gain in the year of sale: installment sales and like-kind exchanges. Knowing how and when to utilize these provisions makes the CPA very valuable to either their client or the entity they work for.

DESIGNED FOR

CPAs who either represent or work for entities that own real property.

BENEFITS

  • Learn when and how to utilize the provisions of IRC Section 453 in order to defer recognizing gain on the sale of real property via installment sales
  • Learn when and how to utilize the provisions of IRC Section 1031 in order to defer recognizing gain on the sale of real property via a like-kind exchange

HIGHLIGHTS

  • How does the IRC define an installment sale under Section 453?
  • When can a taxpayer utilize the provisions of IRC Section 453?
  • When should a taxpayer utilize the provisions of an installment sale and when should it be avoided
  • How does the issue of a “dealer” vs. a “non-dealer” impact the use of the installment sale method
  • How to report an installment sale when related parties are involved
  • How to calculate an installment sale
  • How has the Tax Cuts and Jobs Act impacted the use of the Installment Sale Method
  • What is a like-kind exchange as defined by IRC Section 1031
  • When can a taxpayer utilize the provisions of IRC Section 1031
  • What types of real property are eligible for like-kind exchange treatment and what types are not
  • What is “boot” and how does it impact the like-kind exchange deferral
  • How to calculate a like-kind exchange including any taxable portion
  • How has the Tax Cuts and Jobs Act impacted the use of like-kind exchanges/li>

COURSE LEVEL

Intermediate

PREREQUISITES

A basic understanding of the provisions for recognizing gain or loss on the sale of real property.

ADVANCE PREPARATION

None

INSTRUCTOR

William Eskin

William I. Eskin, CPA

AICPA/Professional Development Institute

William (Bill) I. Eskin, CPA, is very active in the accounting, auditing, tax, and fraud investigation fields in general, and the construction and real estate industries in particular, where he may be best known for identifying and proving CPA malpractice. Recently, he has had three books published: “Construction Contractors-Real World Guide to Accounting and Auditing”, Real Estate-Real World Guide to Accounting and Auditing” and “Real Estate Tax Boot Camp”. Previously, Bill had been the Director of Financial Analysis and Investigation for the world’s largest surety group. His professional experience also includes more than 12 years of experience working for various CPA firms where he specialized in construction, real estate, litigation support, and other services. He has been a Discussion Leader for various organizations where he led numerous courses, presentations, and webinars. Bill has been awarded the Outstanding Discussion Leader Award every year for the past 10 years. He has also been a featured speaker at the AICPA National Construction Conference and various state CPA annual conferences.

PRICING

$129.00 - Member

$139.00 - Nonmember

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

Remind me to register

Print a registration form

ALSO AVAILABLE

COURSE DEVELOPER

Surgent

AREAS OF INTEREST