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Monday, November 9, 2020 Webcast

Surgent's Comprehensive Guide to Tax Depreciation, Expensing, and Property Transactions (E2011093)

9:00 AM - 4:30 PM EDT

Registration: 8:30 AM EDT

Webcast


8 CPE Credits in TX

OVERVIEW

With a greater-than-ever §179 deduction boosted by 100% additional first year depreciation, and pandemic-related business-friendly provisions, these are unprecedented times for businesses to make major asset investments. From the most-up-to-date depreciation regulations to inflation adjustments and technical corrections, this material will help you navigate the complex maze of rules dealing with depreciation, amortization, and sale of property. This reference manual contains a wide range of case types and examples, covering common and less commonly encountered situations to illustrate the most important points CPAs need to be aware of.

This course features a live instructor and has been specifically designed for the NJCPA.

DESIGNED FOR

CPAs in industry and public accounting who need a thorough grasp of this important area of tax law and who want to maximize the possible tax savings for their clients

BENEFITS

  • Understand which assets are subject to depreciation
  • Answer advanced §179 and automobile depreciation questions
  • Fully understand depreciation and MACRS cost recovery
  • Understand installment sales and reacquisitions
  • Complete cases related to depreciation and sales of assets

HIGHLIGHTS

  • Complete coverage of recent tax acts and any new legislation enacted before presentatio
  • Final regulations - bonus depreciation and §1031 exchanges
  • Technical correction Rev. Proc. 2019-13 - use it or stand to lose second-year depreciation deductions for luxury automobiles
  • What are the components for real estate depreciation?
  • A new SUV or sedan, a study of depreciation alternatives
  • Permanency in §179 depreciation rules? How to maximize its use; when to use it; what property qualifies?
  • Sale of property and the depreciation recapture rules (§§1245, 1250, unrecaptured §1250 gain for real estate, §291 for corporations)
  • How to depreciate like-kind exchange property
  • May §121 and §1031 apply to the same transfer of property?
  • Reacquired installment sale property - calculating potential gain and new basis
  • Understanding §197 amortization issues; how to handle intangible asset costs
  • Depreciation issues, tax-deferred exchanges, personal property converted to business property, & overview of home sale exclusion
  • Guide for compliance and planning issues
  • Cases and rulings of depreciation and amortization issues and how they impact clients, along with the useful planning opportunities

COURSE LEVEL

Intermediate

PREREQUISITES

Basic knowledge of tax issues for property transactions

ADVANCE PREPARATION

None

ADDITIONAL NOTES

  • Qualifies for IRS credit

INSTRUCTOR

Douglas Stives

Douglas P. Stives, CPA, MBA

Specialist Professor

Monmouth University

Douglas (Doug) Stives, CPA, M.B.A. is a full-time professor of accounting at Monmouth University in West Long Branch, New Jersey, where he joined the faculty in 2006. Doug was honored as Monmouth’s Outstanding Business Professor of the Year in 2009 and 2016 and was awarded an Outstanding Educator award in 2021 by the New Jersey Society of CPAs. He graduated from Lehigh University with a B.S. in 1968 and an MBA in 1969. Doug started his career at PricewaterhouseCoopers in 1969 and later joined a small CPA firm that became The Curchin Group, located in Red Bank, New Jersey, where he was a partner for 34 years and continues as a consultant. In 1989 and 1990, Doug was the youngest president of the New Jersey Society of CPAs. He served the AICPA as a representative to Council, a member of the Tax Division Executive Committee, and chair of several committees. Doug is a frequent speaker for many state CPA societies. He’s been quoted in the New York Times, the Wall Street Journal, Forbes, and other national publications and has appeared on CNN, CNBC, PBS, NBC, Fox, CBS, ABC, and several cable networks. Doug remains active with his college fraternity, the Kappa Alpha Society, where he served as national president for several years. He also served on many charity boards and was chairman of the Community YMCA in Red Bank, New Jersey. Doug enjoys competitive sailing and downhill skiing.

PRICING

$289.00 - Member

$389.00 - Nonmember

Event Cancelled

This event has been cancelled.

ADDITIONAL OPTIONS

Print a registration form

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COURSE DEVELOPER

Surgent

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