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IRS’ Tangible Property Regulations - How to Operate and Thrive With the Extremely Useful New Set of Tools


Total Credits: 6 including 6 Taxes - Technical

Average Rating:
   56
Categories:
ACPEN Industry Institute |  ACPEN Tax Institute |  IRS Approved |  Tax
Faculty:
Bradley Burnett, J.D., LL.M.
Course Levels:
Intermediate
Duration:
6 Hours
License:

Dates


Description

IRS recently finally finalized its notorious tangible property regulations (and implementing Rev Procs).  Hundreds of pages in length, the new regs soon leave any rational reader with an experience like that of drowning in quicksand.  This course delivers a clear thinking process to sort through, divide and conquer it all.  Course materials contain a "forest for the trees" 3 page overview "Cheat Sheet" (which past participants have dubbed "worth the price of admission").  This foundational course puts the participant in practical command of IRS' newly minted rules and related opportunities and helps to avoid pitfalls. 

 

**This course is approved by the IRS. The submission of a completed request form, found under the materials tab, is required for credit. Please send completed form to leighanne.conroy@acpen.com.

Basic Course Information

Learning Objectives

*To gain a working knowledge of IRS' new acquisition costs, capitalize vs. repair and MACRS disposition final regulations

*Recognize related planning opportunities, traps and compliance obligations

*To enable the participant to capture handsome current deductions under a variety of circumstances, including, but not limited to, the partial disposition of MACRS assets

*To empower the participant to be able to responsibly, properly approach whether to capitalize or expense any expenditure


Major Subjects

*Changes to a taxpayer’s chart of accounts to comply with and thrive under the new regs now advisable

*Which annual elections (as opposed to 3115s) must now be made

*Are the 3 new repair expense safe harbors really as deep and wide as the Grand Canyon?

*Capturing the current deduction now available for partial dispositions of property

*What is the new so-called de minimus safe harbor? Should every taxpayer make the annual election for this -or- is it not worth the paper it’s written on?

*Which items are properly categorized as “materials and supplies” and which are not?

*Why it may not (or may) matter all that much whether you filed Form 3115 for 2014.

*Under what circumstances 3115s must be filed from here.

*How to know whether an expenditure is properly currently deducted as a repair expense or, rather, capitalized and subsequently cost recovered

*You can drive trucks through the opportunities drafted by IRS (new safe harbors and elections) if you know what you’re doing


Course Materials

Faculty

Bradley Burnett, J.D., LL.M. Related Seminars and Products


Bradley Burnett practices tax law in Colorado. After undergraduate (Business Administration/Accounting) school and law (J.D.) school, he earned a Master of Laws in Taxation (LL.M.) from the University of Denver School of Law Graduate Tax Program. After stints at national and local accounting firms and a medium sized Denver law firm, he established his own law firm in 1990, He has delivered more than 3,300 presentations on tax law to CPAs, attorneys, EAs and others throughout all fifty U.S. states, Washington, D.C. and seven countries. Bradley served four years as adjunct professor at the University of Denver School of Law Graduate Tax Program, where he pioneered an employment tax course and occasionally pinch-hit in the IRS practice and procedure field. He authors and teaches tax materials for Commerce Clearing House (CCH), has received the Illinois Society of CPAs Instructor Excellence Award and five times has been the most requested, top-rated presenter at annual state CPA tax institutes. His seminar style is briskly paced delivery of practical insights with humor. 


Additional Info

Basic Course Information

Prerequisites None
Advanced Preparation None
Designed For Accountants, property owners, lessors, lessees of business property and other interested persons desiring to gain a practical working knowledge of IRS' new tangible property regulations, including the acquisition, capitalize vs. repair and partial disposition rules
Original Recording Date 06/01/2016
Yellow Book No
Course Developer Bradley Burnett Tax Seminars, Ltd.
Date Added to Catalog 05/19/2016

Additional Information

Complaint Resolution Policy Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).
Official Registry Statement

Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org


Instructional Delivery Method Group Internet Based
Refund/Cancellation Policy

Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer. 


Course Registration Requirements

Online Registration


Reviews

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1

Overall:      4.5

Total Reviews: 56

Comments

Lucy A

"Bradley is so funny! I really enjoyed his presentation."

Marianne P

"Excellent. I've attended others on this topic and this was the best by far."

Santosh B

"excellent"