(Updated for the Tax Cuts and Jobs Act) 8-Hour Program
WHY ATTEND THIS COURSE?
Is an expenditure associated with tangible property deductible or must it be capitalized? Learn the rules for treatment of amounts paid to acquire, produce, repair, or improve tangible property and proper accounting for dispositions of property subject to depreciation. The capitalization regulations provide objective standards and bright-line rules intended to simplify compliance with the capitalization provisions contained in section 263(a) of the Internal Revenue Code. This program highlights issues involving what must be capitalized, what can be treated as a repair, and items related to depreciation of fixed assets.
CPAs who advise clients and/or prepare tax returns dealing with expenditures to repair, improve, or acquire tangible property. May also be suitable for public practice.
Participants will be able to:
COURSE ACRONYM: DRFA
PRESENTATION METHOD: Group-live
LEVEL OF KNOWLEDGE: Intermediate
ADVANCE PREPARATION: None
FIELD OF STUDY: Taxes/General Taxation
RECOMMENDED CPE CREDIT: 8 hours
SmartPros®, A Kaplan Company and Loscalzo Institute, A Kaplan Company are 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.