Lightning Fast Depreciation: The World of Depreciation (Updated for CARES Act) (Half-Day Webinar) (Completed)

Date: Thursday, January 27, 2022
Instructor: Greg White
Begin Time:  8:00am Pacific Time
9:00am Mountain Time
10:00am Central Time
11:00am Eastern Time
CPE Credit:  4 hours for CPAs
4 hours Federal Tax Related for EAs and OTRPs
4 hours Federal Tax Law for CTEC

We’ll cover the new lightning fast methods of depreciation provided by the Tax Cuts and Jobs Act and CARES Act. You’ll learn how to take fast depreciation, how to minimize recapture income on the sale of property, and how to slow down depreciation if the situation calls for that.

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

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.

Learning Objectives

  • Identify the best depreciation method for real estate improvements
  • Differentiate which cost recovery method is best in specific client situations
  • Recognize and apply the new rules for de minimis expensing updated for affects of the Tax Cuts and Jobs Act
  • Recognize and apply the new bonus depreciation rules for qualified improvement property under the CARES Act
  • Recognize and apply the new rules for expensing real property under the Tax Cuts and Jobs Act
  • Recognize and apply planning techniques to target an exact amount of depreciation that maximizes tax benefits over the long haul

Level
Intermediate

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (4 hours)

Program Prerequisites
A basic understanding of tax depreciation methods.

Advance Preparation
None

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