Surgent's Essential Depreciation & Expensing Update [TDP4]


Sep 23, 2022
Time: 12:30pm-4:00pm

Credit Hours:



Member: $160.00
Non-member: $240.00

Discussion Leader:

Susan Smith, CPA

Susan Smith manages her own firm specializing in tax planning for individuals and business owners and is also a frequent speaker at tax conferences. Smith was a Senior Manager in the tax departments of Price Waterhouse and Peat Marwick (the predecessor of KPMG). While at Price Waterhouse, she also held the national specialist designation for the real estate and partnership tax practices. During her time at Peat Marwick, Smith led the real estate and tax practices locally. She was an associate adjunct professor at Widener University in the master’s taxation program. Her ratings have consistently exceeded 4.8 on a scale of 5.0. Smith is a four-time recipient of the James L. McCoy Discussion Leader of the Year Award for excellence in teaching. And in 2015, 2016, and 2018, she received the Surgent Outstanding Discussion Leader Award because of her consistently high evaluations for knowledge and presentation skills. Smith earned her Bachelor of Business Administration degree with an accounting concentration, from the University of Toledo.

Full Description

Surgent's Essential Depreciation and Expensing Update (TDP4)

September 23rd, 2022 / 12:30 pm 4:00 pm

Pike's Waterfront Lodge
1850 Hoselton Drive / Fairbanks, AK

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. With three major acts passed in less than 18 months (CARES Act, Tax Relief Act, and American Rescue Plan Act), this reference manual contains many examples and cases to illustrate the most important points of which CPAs need to be aware.

Major Topics:
- 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

Learning Objectives:
- 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

Designed For: 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

CPE Credits: 4, Taxation

Level of Knowledge: Intermediate

Prerequisite: Basic knowledge of tax issues for property transactions

Acronym: TDP4

Discussion Leader: Susan Smith, CPA