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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.

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 June 26, 2019.

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

  • Enrolled Agents 2.0
     
  • This program qualifies for 2.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
     

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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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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Product ID: 405651
Published 2019
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