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Section 168(k) Bonus Depreciation Regulations Update

Gain a better understanding of the new IRS proposed regulations on the increased bonus depreciation for new and used property.

Depreciation in general and bonus depreciation in particular have been administratively burdensome federal tax provisions for generations. Contrary to congressional assertions, the Tax Cuts and Jobs Act (TCJA) only increased the complexity and administrative burden of bonus depreciation. In addition to the planned changes in these rules that taxpayers and their advisors must navigate, we are also faced with the challenge of the unintended drafting errors in TCJA regarding depreciation. This topic will dissect all these changes, both intended and unintended, and will provide taxpayers and their advisors with some practical solutions to applying the new bonus depreciation regulations in everyday scenarios of their businesses.

Learning Objectives

  • You will be able to identify the historical highlights of the changes to bonus depreciation.
  • You will be able to identify the impact of the Tax Cuts and Jobs Act on bonus depreciation.
  • You will be able to differentiate between qualified vs non-qualified property.
  • You will be able to differentiate between the Phase Down rates on future years.

Runtime: 99 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Section 168(k) Bonus Depreciation History Leading up to the Tax Cuts and Jobs Act (TCJA)

Major Changes TCJA Brought to §168(K)

  • Bonus Depreciation Percentage
  • Eligibility of Used Property
  • Real Property Provisions

The Bonus Depreciation Regulations Reg-104397-18

  • The Four Eligibility Requirements of Property
    • Must Be of a Specified Type
    • Must Meet the Original Use Test, or Alternatively the Acquisition Requirements
    • Must Be Placed in Service Within a Specified Time Period
    • Must Be Acquired After September 27, 2017
  • Recap of How the New Bonus Depreciation Rules Intersect With Other Provisions of TCJA Such as 163(j) and 199A
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on August 30, 2019.

Call 1-866-352-9540 for further credit information.

  • CPE/NASBA - QAS Self Study 2.5 including Taxes 2.5
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study 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 web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.5 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 2.5 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
     
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Edward D. Meyette, CPA

Edward D. Meyette, CPA

Crowe LLP

  • Partner in the National Tax Office of Crowe LLP
  • National leader of Crowe’s Fixed Asset Services practice
  • Frequent author and speaker on federal tax topics in the areas depreciation and capitalization
  • Member of International Council of Shopping Centers (ICSC) Tax Advisory Committee
  • B.A. degree in business administration, Western Michigan University
  • Can be contacted at 616-752-4234 or [email protected]
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 406815
Published 2019
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