Webcast: Repair Regulations: 2017 Update (XSREPR17)
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The repair regulations continue to be a particularly challenging area for tax practitioners. Though technically challenging, they also present very attractive opportunities to take large deductions when new property is acquired and existing properties are repaired. This program discusses the major components of the repair regulations, focusing on the areas that are most important to general tax practitioners with a variety of business clients.

12/18/2017
When: 12/18/2017
9:00 AM until 11:00 AM
Where: Webcast
SURGENT
REPR-2017-01-WEBNR-352-120
United States
Presenter: Mike Tucker, Ph.D., LL.M., J.D., CPA


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Acronym XSREPR17
CPE 2 hours
Vendor Surgent
Category
Taxation
Level Intermediate
Prerequisite An understanding of the tax rules relating to individual income tax
Adv Prep None
Yellow Book? No
Designed for Tax practitioners advising clients as to whether expenditures relating to the acquisition and maintenance of tangible property must be capitalized or may be expensed
Registration
Member $89
CPA Non-Member $114

The Member rate applies to LCPA members, other state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Course Description

The repair regulations continue to be a particularly challenging area for tax practitioners. Though technically challenging, they also present very attractive opportunities to take large deductions when new property is acquired and existing properties are repaired. This program discusses the major components of the repair regulations, focusing on the areas that are most important to general tax practitioners with a variety of business clients.

Objectives

  • Understand and apply the final repair regulations to clients

Topics

  • Materials and supplies
  • What is a Unit of Property?
  • Rotable, temporary, and standby emergency spare parts
  • Dispositions of property and their tax consequences
  • Demolition of a structure
  • Mandatory and elective partial dispositions
  • De Minimis Safe Harbor
  • Safe Harbor for small taxpayers
  • Routine maintenance safe harbor
  • Improvement Tests: Betterments, Restorations, and Adaptations to a new and different use