Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2025 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
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.
Publication Date: January 2023
Designed For
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
- Recognize how to 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
Self-Study
NASBA Field of Study
Taxes (4 hours)
Program Prerequisites
A basic understanding of tax depreciation methods.
Advance Preparation
None
Instructor
Greg White
Greg White, CPA, taught for 14 years as an adjunct professor for Golden Gate University. He’s admitted to practice before the United States Tax Court. He is a founder and shareholder, in WGN PS in Seattle, WA. He has been named a Top 50 IRS Representation Practitioner in the U.S. by CPA Magazine and has taught for a number of professional organizations. Greg enjoys the technical side of tax, but also likes to have fun in class.