Tax Cuts and Jobs Act: Deep Dive into Depreciation Changes (Currently Unavailable)

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

Learn how to maximize depreciation for your clients under the TCJA with this intermediate-level on-demand course authored by Greg White. This on-demand webinar will teach you about the specific changes to Section 179 as well as how the bonus depreciation works under the new laws. Participants should have some prior knowledge of tax depreciation.

Publication Date: June 2018

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

  • TCJA: Fast Depreciation
  • TCJA and Bonus Depreciation
  • Allocation of Cost: Building, Land and Personal Property
  • Passenger Automobiles
  • 15-Year Property
  • §179 Changes
  • §179 Qualified Real Property
  • Trading Places: QIP §179 and Bonus Depreciation
  • QRP: Building Placed in Service First
  • The Basics of De Minimis
  • De Minimis: Required Book Conformity
  • Improvements and the De Minimis Rules
  • §179-Using a Scalpel instead of a Blunt Instrument: The "Surgical Approach"
  • Flexibility to Change
  • QBID the 20% Pass-Through Deduction
  • Fast Write Off Rules Special Roles Played by §179, Bonus and De Minimis

Learning Objectives

  • Identify the best depreciation method for real estate improvements, including Tax Cuts and Jobs Act (TCJA) changes
  • Recognize and apply effective dates for the new 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 the maximum depreciation (not including bonus) for passenger automobiles assuming qualified business use in the first taxable year after 12/31/2017
  • Differentiate types of properties eligibility for Section 179 remains unchanged for years before and after 2018
  • Identify the maximum Section 179 expense amount for 2018
  • Differentiate proper statements with respect to de minimis rules
  • Describe allocation methods/approaches uses little to no documentation and is based on a preparer's experience
  • Recognize types of real property 15-years lives are eliminated as a result of the TCJA
  • Identify exclusion related to qualified improvement property

Level
Intermediate

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Some knowledge of tax depreciation concepts.

Advance Preparation
None

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