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Wednesday, October 25, 2023 Live Webcast

Surgent's Essential Depreciation and Expensing Update (E2310062)

9:00 AM - 12:30 PM EDT

Registration: 8:30 AM EDT

webcast

Vendor Platform

4 CPE Credits in TX

OVERVIEW

The “permanent” changes within the Tax Cuts and Jobs Act may stand like a lion in the pathway of change, but Washington has a different definition of the word “permanent.” Inflation adjustments and technical corrections are included within this deep analysis of the complex maze of rules dealing with depreciation, amortization, and sale of property. This reference manual contains many examples and cases to illustrate the most important points of which CPAs need to be aware.

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

  • Fully understand two of the most commonly prepared tax forms
  • Understand assets from acquisition to disposition
  • Complete/discuss cases highlighting some of the practical issues tax preparers face

HIGHLIGHTS

  • Complete coverage of recent tax acts and any new legislation enacted before presentation
  • Resolved technical glitches for Qualified Improvement Property
  • Detailed coverage of §179 expense election and §168(k) bonus or “additional first-year depreciation” - how to maximize them, definitions, limitations, what property qualifies, etc.
  • Sale of property and the depreciation recapture rules (§§1245, 1250, unrecaptured §1250 gain for real estate, §291 for corporations)
  • MACRS depreciation - finding the proper method, convention, and recovery period
  • What is “listed property” and what are the current limitations?
  • Amortization of start-up, organization, and other expenditures
  • AMT depreciation adjustments and how to avoid them
  • Examples, 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

John Evanich

John L. Evanich, CPA

Surgent Professional Education

John L. Evanich, Jr., CPA, is a retired tax partner, formerly with CohnReznick, LLP - the 10th-largest CPA firm in the country. For more than 40 years, John specialized in working with professional service businesses, LLCs, LLPs, and S corporations on tax planning and other tax matters important to them. John has represented taxpayers on hundreds of IRS appeals and court petitions. With over 40 years of experience in public accounting, John is a past president of the Connecticut Society of CPAs (CTCPA), a past member of their Board of Governors, and a former trustee of their Educational Trust Fund. He is also a former member of AICPA Council. Mr. Evanich has lectured and written extensively on tax issues, both locally and nationally. He is a member of the American Institute of CPAs. In 2015 and 2016, he received the Surgent Outstanding Discussion Leader Award because of his consistently high evaluations for knowledge and presentation skills. He has also served as chairman of many CTCPA committees, most notably the Federal Taxation, State Taxation, Public Relations, and Technical Consultation Services committees. John has also testified on tax matters of concern to middle- and upper-income taxpayers, as well as small businesses, before the Ways and Means Committee of the U.S. House of Representatives, as well as various Connecticut state legislative committees. Mr. Evanich received a bachelor’s degree in accounting with honors from the University of Bridgeport, Connecticut and completed all course work in the Master’s in Taxation program at Pace University in New York City.