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Surgent’s Essential Depreciation & Expensing Update

1:00 pm–4:45 pm ET

# of CPE Credits

4

Description

The “permanent” changes within the Tax Cuts and Jobs Act may stand like a lion in the pathway of change, but Washington has a different definition of the word “permanent.” Inflation adjustments and technical corrections are included within this deep analysis of the complex maze of rules dealing with depreciation, amortization, and sale of property. This reference manual contains many examples and cases to illustrate the most important points CPAs need to be aware of.

Objective

* Fully understand two of the most commonly prepared tax forms * Understand assets from acquisition to disposition * Complete/discuss cases highlighting some of the practical issues tax preparers face

Highlights

* Complete coverage of recent tax acts and any new legislation enacted before presentation * How the CARES Act corrected a technical glitch, and the effect of Rev. Proc. 2020-25 potential for amending prior returns * Technical correction Rev. Proc. 2019-13: use it or stand to lose second-year depreciation deductions for luxury automobiles * Detailed coverage of §179 expense election and §168(k) bonus or “additional first-year depreciation”: how to maximize them, definitions, limitations, what property qualifies, etc. * Sale of property and the depreciation recapture rules (§§1245, 1250, unrecaptured §1250 gain for real estate, §291 for corporations) * MACRS depreciation: finding the proper method, convention, and recovery period * What is “listed property” and what are the current limitations * Amortization of start-up, organization, and other expenditures * AMT depreciation adjustments and how to avoid them * Examples, cases, and rulings of depreciation and amortization issues and how they impact clients, along with the useful planning opportunities

Who Should Attend

CPAs in industry and public accounting who need a thorough grasp of this important area of tax law and who want to maximize the possible tax savings for their clients

Required Knowledge

Basic knowledge of tax issues for property transactions

Advanced Prep

None

Event Speaker(s)

Michael Anthony Frost ( Jacksonville, AL ),

Additional Event Information

Technical Support
Contact NCACPA if you need assistance with your online program. For the quickest results, email the Online Learning Team at [email protected], and a team member will contact you shortly.

If you need assistance with internet access issues, browser capability, or when the NCACPA office is closed* please call Freestone Technical Support at 866-702-3278 or by email at [email protected] .

*NCACPA office hours are 9:00 am–5:00 pm ET. Online Learning Team members will be available via email 30 minutes prior to the start of a live online program.

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Share This Event

Event Vendor:Surgent McCoy CPE, LLC
Field of Study:Accounting
Level: Intermediate
Other:Enrolled Agent

Event Type:Webcast
NASBA Instructional Method:Group Internet Based
Event Code:W0030422

Registration Fees

RegistrationEarly BirdRegular
NCACPA MemberN/A$145.00
Non-MemberN/A$195.00
CPE Sponsors LogoThe North Carolina Association of Certified Public Accountants is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org/.

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