Becoming a Tax Ninja: Tax Accounting Methods Part 4
Author: Greg White
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC |
Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2026 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
This is a hands-on approach to unleashing large deductions for your clients, and helping your clients avoid significant tax risks before they mushroom into major tax issues. Buried deep in the Internal Revenue Code are the mysteries of accounting methods. These have traditionally been to exclusive province of only large accounting firms; you can bring this critical tax tool to your clients.
We'll cover the big issues, and how to make these changes with hand-on, real-life examples and filled-out Forms 3115.
Publication Date: October 2023
Topics Covered
- Bonus depreciation for used property
- Qualified improvement property
- §179 election
- Picking best depreciation by property type
- Partial dispositions of real property
- Removal costs in a remodel
Learning Objectives
- Identify removal costs that can be expensed
- Recognize how to complete Form 3115 for qualified improvement property
- Recognize how to apply the partial disposition rules to real property
- Identify a property that is ineligible for Section 179
- Identify the bonus depreciation percent for property placed in service in 2027
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
