Tax Cuts and Jobs Act: Deep Dive into Depreciation Changes

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

Maximize and Apply Depreciation Changes under Tax Reform

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: 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

Registration Options
Quantity
Fees
Regular Fee $59

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