Description
How do I treat a property transaction?
This event will help you answer this question by focusing on understanding capitalized costs and depreciation and learning about the IRS cost and repair regulations dealing with property transactions so you can help your clients optimize their tax savings. Tax professionals will also learn about the rules for depreciation, amortization, like-kind exchanges, involuntary conversions, business property sales, and important property-related timing issues and planning opportunities.
- Qualifies for IRS CE
This event is part of ISCPA's 2025 Tax School, designed to provide a convenient, comprehensive education about tax fundamentals for early-career tax staff in a series of courses. This series, designed for the ever-changing and complex world of tax, features high-quality presentations and an interactive, colleague-to-colleague approach to ensure participants develop the skills to apply their knew knowledge in practical settings.
Designed For
Objectives
When you complete this event, you will be able to:
- Recall the initial tax basis and adjusted tax basis of business property.
- Identify the tax basis of self-constructed assets.
- Distinguish between deductible repairs and capitalized improvements.
- Recall changes in the tax rules to the classification of expenditures such as materials, supplies, repairs, and improvements.
- Recall the fundamentals of modified accelerated cost recovery system (MACRS) depreciation.
- Recognize which assets are considered listed property.
- Recognize the types of purchased intangible costs that must be capitalized.
Highlights
- Tax basis of property acquisitions
- Initial basis of property acquired in an exchange transaction
- Materials, supplies, repairs, and improvements
- Accounting method changes
- Depreciation: MACRS, Section 179, and bonus
- Intangible assets and amortization
- Organization and start-up costs
Advanced Prep
- Download PDF manual - view your upcoming events in "My CPE" on website
- Test your computer/device for compatibility with virtual meeting space well in advance of your webinar
If you need this reported to the IRS for CE credit, email CPE@idcpa.org
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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.