Idaho Society of CPAs

Taxation of Property Transactions

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  • Date/Time
    • Dec 12, 2024
    • Sign In: 11:45am (MT)
    • Program: 12:00pm - 3:30pm (MT)
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  • Location
    • ISCPA Enrichment Center
      1649 W Shoreline Drive #202
      Boise, ID 83702
    • Map
  • Credits
    • 4.00
  • Credit Type(s)
    • Taxation (4.00)
  • Prerequisites

    • Basic knowledge of property transactions and taxation

  • Vendor
    • AICPA
  • Level
    • Intermediate
  • Fields of Study
    • Taxes
  • Message
    • ATTENDING In Person

Description

A fundamental understanding of the taxation of business property transactions is essential to any tax practice. This course prepares tax professionals to handle the tax effects of common property transactions, including like-kind exchanges and involuntary conversions. It also covers important property-related timing issues and planning opportunities that can lead to significant tax savings.
  • Qualifies for IRS CE

Designed For

  • CPAs looking for innovative tax planning and savings techniques to solve client problems

    • Objectives

    When you complete this course you will be able to:
    • Calculate gain or loss realized and recognized on business property dispositions.
    • Identify the tax treatment of net Section 1231 gains and net Section 1231 losses.
    • Determine the application of the Medicare contribution tax to property dispositions.
    • Recall rules for depreciation subject to recapture when property was acquired in a nontaxable exchange transaction or by gift or bequest.
    • Recall the requirements for deferring realized gain on an involuntary conversion.
    • Understand the rules dealing with like-kind exchanges and involuntary conversions, all updated for tax reform.
    • Apply proper treatment of involuntary conversions.
    • Explain the deferral of realized gain or loss on a like-kind property exchange.
    • Determine the amount of gain or loss on the sale of property.
    • Determine the character of recognized gain or loss on the disposition of business property.
    • Implement comprehensive property tax strategies to minimize taxes. 

    Highlights

    • Sections 1231, 1245, 1250
    • Depreciation recapture
    • Capital gains and losses
    • Non-recognition transactions

    Advanced Prep

    • Manual
      • If you did not purchase a printed manual, download it from your upcoming events in "My CPE" on website, and bring it with you
      • If you did purchase a printed manual and would also like an electronic copy be sure to download it
    • Review ISCPA Parking Map - found in your email confirmation
    • Lunch provided if you are also attending Tax Planning for Small Businesses on December 12 starting at 8am.
    • IRS CE Approved

    If you need this reported to the IRS for CE credit, email CPE@idcpa.org

     

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    Or Attend Online

    Leaders

    William Taylor

    William (Bill) F. Taylor, CPA is a professional speaker and a CPA with a small tax and consulting practice. Bill is also an Adjunct Assistant Professor in the Masters of Business Administration program at the University of Mississippi. He recently retired as President of Renasant Bank in Water Valley, MS.

    Bill has worked in the Accounting, employee benefit and investment fields for over 25 years, beginning his career as the Employee Benefits Coordinator in the Jackson, MS office of KPMG Peat Marwick and managing his own firm since 1999. A nationally known consultant and speaker, Bill has conducted seminars for the American Institute of Certified Public Accountants, the American Society of Pension Professionals and Actuaries, more than 40 state CPA and Bar associations and other organizations. He was awarded the AICPA Outstanding Discussion Leader award multiple times and the James L. McCoy Discussion Leader of the Year Award from Surgent CPE . Bill is the author of Taxation of Employee Benefits Volume I and Volume II, and his articles have appeared in numerous publications.

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