Early Bird Fees (through 10/1)
After 10/1, add $50 to your fee.
CPE: 8 hours
Vendor: Surgent McCoy CPE
Prerequisites: Basic knowledge of tax issues for property transactions
Advanced prep: None
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
Surgent's Comprehensive Guide to Tax Depreciation, Amortization, and Property Transactions From Acquisition to Exchange Or Disposition
Seemingly every year, economic stimulus packages drastically change depreciation rules. The purpose of this course is to provide an updated in-depth analysis of the complex maze of rules dealing with depreciation, amortization, and sale of property, with an emphasis on identifying special planning opportunities and pitfalls. This reference manual contains many examples and cases to illustrate the most important points CPAs need to be aware of.
- Understand which assets are subject to depreciation
- Answer advanced §179 and automobile depreciation questions
- Fully understand depreciation and MACRS cost recovery
- Understand additional first-year depreciation
- Understand installment sales and reacquisitions
- Complete cases related to nontaxable transactions
- Complete coverage of recent tax acts and any new legislation enacted before presentation
- How to depreciate like-kind exchange property, and an added twist for luxury vehicles traded in
- Reacquired installment sale property – calculating potential gain and new basis
- New regulations on capitalization of tangible assets and procedures for automatic changes in accounting method associated with the new depreciation rules
- Detailed coverage of §179 expense election and how to maximize its use; when to use it; what property qualifies?
- Accounting for a change in use
- Understanding §197 amortization issues; how to handle software and other intangible asset costs
- AMT depreciation adjustments and how to avoid them
- Sale of property and the depreciation recapture rules (§§1245, 1250, unrecognized §1250 gain for real estate, §291); goodwill write-offs need to be recaptured too!
- Depreciation issues, tax-deferred exchanges, personal property converted to business property, and overview of home sale exclusion
- Guide for compliance and planning issues from Pre-ACRS, ACRS, and MACRS depreciation and amortization rules
- Cases and rulings of depreciation and amortization issues and how they impact clients, along with the useful planning opportunities
Meet the Speaker
Jeff Snyder, CPA is president of the J.C. Snyder Co., Inc., a professional accounting firm and Snyder Management Corporation, a tax compliance and planning firm. He has been in the accounting profession for over 30 years. Since 1996, he is also a developer and presenter of continuing professional education for CPAs and other professionals. He combines his broad knowledge of accounting and tax information into an energized teaching atmosphere that motivates his students to excel in learning and understanding complex issues. He consistently receives high evaluations from course participants and has great enthusiasm for teaching and training.
In the mid-1990s, Snyder was an adjunct professor of accounting at Columbus State Community College for three years and also led training for the American Institute of Banking.
Snyder is an alumnus of The Ohio State University, where he received his undergraduate training in accounting and economics.