Crucial Changes Affecting Real Estate Taxation (Completed)

Date: Thursday, January 16, 2020
Instructor: Greg White
Begin Time:  12:00pm Pacific Time
1:00pm Mountain Time
2:00pm Central Time
3:00pm Eastern Time
CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

Apply Tax Reform Changes to Real Estate Tax Issues - Including Notice 2018-64 Regarding Sec. 199A Regs

The Tax Cuts and Jobs Act of 2017 (TCJA) made big changes to taxes for many businesses. Chief among those are any businesses with real estate holdings as part of their business. Changes to depreciation, expensing, interest deductibility, and the new qualified business income deduction (QBID) mean your clients or your business will have much new to consider for 2018 tax filings. Now is the time to get a head start on these issues with the help of experienced tax instructor Greg White, CPA. This two-hour CPE webinar will provide insight into the most critical changes and allow you time to make adjustments and plan for how these changes affect your clients or business.

Included in this presentation by experienced practitioner and nationally known presenter Greg White, CPA, will be a discussion of the IRS Final Regulations released on January 18, 2019 covering Section 199A. These proposed regs open planning opportunities as well as clarifying the provisions of the Tax Cuts and Jobs Act of 2017.

Who Should Attend
CPAs and CPA aspirants in public practice and tax staff in private practice who have some experience with federal taxes.

Topics Covered

  • Bonus depreciation after the Tax Cuts and Jobs Act
  • §179 and its application to real property
  • How and when the de minimis rules can be used on residential real property remodels
  • The QBID (20% passthrough deduction)
  • Interest deductibility under §163(j)
  • Capitalization of interest on self-constructed assets

Learning Objectives

  • Recognize the best depreciation method for real estate improvements, including Tax Cuts and Jobs Act changes
  • Identify and apply effective dates for the new rules
  • Recognize and apply the new rules for de minimis expensing updated for changes in the Tax Cuts and Jobs Act
  • Describe changes made to interest deductibility area. Should some real estate owners "elect out" even though their gross receipts are significantly below $25 million?
  • Identify and apply the new QBID rules (20% "pass-through deduction") to real estate rentals
  • Describe how the Tax Cuts and Jobs Act (TCJA) applies to interest capitalization on self-constructed assets

Level
Intermediate

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic Understanding of federal income taxation concepts as applied to real estate ownership.

Advance Preparation
None

 Chat — Books Support