A Deep Dive into Depreciation Changes (Currently Unavailable)

Author: Greg White

Maximize and Apply Depreciation Changes

Experienced practitioner and instructor Greg White, CPA, will lead this deep-dive two-hour CPE webinar on the specific depreciation changes made by the Tax Cuts and Jobs Act of 2017 (TCJA). How will bonus depreciation work now? What about Section 179? Get the answers to these questions and more in this focused program looking at what has changed under the new tax law.

Publication Date: January 2020

Designed For
CPAs, EAs, and tax return professionals in public practice and tax staff in private practice who have some experience with tax depreciation.

Topics Covered

• Bonus Depreciation
• Land Improvements
• Passenger Automobiles
• Buying Assets of a Business
• Sales of Partnership Interests
• Converting Personal Use Property
• Allocation of Cost: Building, Land and Personal Property
• Passenger Automobiles
• 15”Year Property
• §179 Qualified Real Property
• Trading Places —QIP§179 and Bonus Depreciation
• QRP: Must Be An Improvement
• The Basics of De minimis
• De minimis: Required Book Conformity
• Improvements and the De Minimis Rules
• §179: The "Surgical Approach"
• Roles: Fast Write Off Rules

Learning Objectives

• Identify the best depreciation method for real estate improvements
• Recognize and apply effective dates for the rules
• Describe the new rules for de minimis expensing updated for changes in the Tax Cuts and Jobs Act
• Recognize and apply changes to §179 made in the Tax Cuts and Jobs Act
• Identify which assets from a purchase is eligible for bonus depreciation
• Recognize the maximum depreciation a client can take in a vehicle's first year of service
• Describe true statements regarding qualified improvement property
• Describe true statements regarding the de minimis election for a taxpayer without audited financial statements
• Identify the best use for bonus depreciation
• Recognize the best method to target income because it provides the most flexibility

Level
Intermediate

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Some knowledge of tax depreciation concepts.

Advance Preparation
None