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One page summary of the Tangible Property Repair Regulations - Rev. Proc. 2014-16 – IRS releases procedural guidance to implement Final Repair Regulations
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UNDERSTAND TANGIBLE PROPERTY REPAIR REGULATIONS - WINTER 2019 UPDATE

Cost Free
Presentation Length 2.0 hours

Recorded DateFebruary 13, 2015
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Who Should AttendCPA - small firm
CPA - medium firm
CPA - large firm
Enrolled Agent
Real Estate Professional
Series: Taxes, Enrolled Agents
Course Description

Winter 2019 Update

The Final Tangible Property Repair Regulations are in full effect, yet many taxpayers are not in compliance or are missing opportunities to take full advantage of these new rules. This webinar covers compliance requirements as well as potential tax planning strategies on both a retroactive and prospective basis. The webinar also contains in-depth examples and real-life case studies. Participants will be better able to identify tax saving opportunities and be in compliance with these new regulations.

Repair Regulations Overview and Practical Considerations:
• Common changes in accounting methods and optional elections
• The De Minimis Safe Harbor and the $5,000/$2,500 thresholds
• The Routine Maintenance Safe Harbor
• Relief for Small Businesses
• Disposition rules
• Definitions of Betterments, Adaptations and Restorations with examples
• Rules for materials and supplies

Learning Objectives

  • Understand changes and new requirements presented by the final repair and disposition regulations

  • Identify new opportunities to immediately deduct abandoned building components, avoid recapture tax, and expense demolition costs

  • Gain an in depth knowledge of Unit of Property rules

  • Determine when to capitalize and depreciate expenditures and when to treat them as immediately deductible repairs and maintenance expenses

  • Effectively use accounting method changes and elections under the repair regulations to maintain compliance and reduce tax obligations

  • Identify opportunities for missed deductions and other tax planning ideas

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Eddie Price

KBKG
Principal – Cost Segregation
[email protected]
8173108830

Kbkg

Eddie is a Principal with KBKG and oversees the Southern region and its Texas-based operations. He is a Certified Cost Segregation Professional (CCSP) with the American Society of Cost Segregation Professionals (www.ASCSP.org). With over 35 years of cost segregation experience dating back to the Investment Tax Credit period, Eddie is one of the most experienced experts in the industry.

Eddie currently serves as Co-Chair of the Testing Committee of the ASCSP and is a former Chair of the Education Committee. In that position, he led the effort to develop educational courses and exam prep material that ASCSP members utilize before taking industry accreditation exams. He was also instrumental in getting ASCSP qualified by NASBA to provide Continuing Professional Education (CPE) to the CPA community.

About Our Presenter

Kbkg
Established in 1999 with offices across the US, KBKG provides turn-key tax solutions to CPAs and businesses. By focusing exclusively on value-added tax services that complement your traditional tax and accounting team, we always deliver quantifiable benefits to clients. Our firm provides access to our knowledge base and experienced industry leaders. We help determine which tax programs benefit clients and stay committed to handling each relationship with care and diligence. Our ability to work seamlessly with your team is the reason so many tax professionals and businesses across the nation trust KBKG.