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Friday, August 12, 2022 Live Webcast

Essential Depreciation and Expensing Update Webinar (X1-TDP4-2022-01-WEBNR-224-01)

9:00 AM - 1:00 PM 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.

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

Michael Frost

Michael A. Frost, CPA, EA

Michael A. Frost, CPA, EA Mike Frost, CPA, of Jacksonville, Alabama, provides tax consulting, continuing education, and motivational speaking services through his company, Mike Frost Enterprises. Mike is a former shareholder of MDA Professional Group, PC, where he managed the tax department of the Albertville office. Mike has 31 years of experience in public accounting, including but not limited to: Business and individual income tax preparation and planning; mergers and acquisitions; estate, gift, and trust tax preparation; small business consulting; Medicare planning and other elder care; audit representation; and religious groups and clergy. Mike has conducted CPE engagements and seminars throughout the United States and has served as technical advisor for tax articles in The Sand Mountain Reporter, a local newspaper. Mike has been a featured presenter at the Alabama Society of CPAs Annual Meeting and the Federal Tax Clinic held annually at the University of Alabama in Tuscaloosa. Mike graduated with "high honors and distinction" from Jacksonville State University with a major in accounting, a minor in finance, and a 4.0 GPA. He is a member of the American Institute of Certified Public Accountants and the Alabama Society of Certified Public Accountants. In addition, he is a graduate of the Tax Planning and Advising for Closely Held Businesses Certificate of Educational Achievement Program sponsored by the AICPA.