Gain a better understanding of the IRS bonus depreciation regulations and how best to use them for your company.
Many businesses spend a significant amount of money investing in their office spaces, whether for buildings, equipment, furniture, and fixtures, or computers and other technologies for their businesses to operate. The federal government provides multiple tax incentives to help offset the cost of these investments that are often not understood or utilized. This course will cover bonus depreciation and related incentives about fixed asset investments to help taxpayers understand these tax incentives, enabling them to fully utilize these tax benefits in their businesses.
Learning Objectives
- You will be able to identify the characteristics of Bonus Depreciation
- You will be able to differentiate between Acts and Codes impacting Bonus Depreciation
- You will be able to recognize the depreciation lives of various assets.
- You will be able to identify Alternative Depreciation programs
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Why Lorman?
Over 37 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
Bonus Depreciation
- What Is Bonus Depreciation?
- History of Bonus Depreciation and Modified Accelerated Cost Recovery System (MACRS) Depreciation in General
- Recent Legislative Developments in Bonus Depreciation
How Bonus Depreciation Is Used in Cost Segregation Studies to Drive Tax Benefits
- Overview of Cost Segregation
- Cost Segregation Case Studies
- Tax Benefits of Cost Segregation - Compound Interest, Time Value of Money, and Lifetime Benefits
Other Tax Incentives Related to Real Property Investments
- Section 179D - Energy Efficient Commercial Building Deduction
- Section 45L - Energy Efficient New Homes Credit
Other Incentives and Issues to Consider in Depreciable Property
- Fixed Asset Reviews - Tangible Property Regulations
- More QIP - Streamlined Analysis of Building Improvements
- Like Kind Exchanges: Impact on Building Investments
- Alternative Depreciation System - When Does This Apply?
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Why Lorman?
Over 37 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 Course
This course was last revised on October 19, 2022.
Call 1-866-352-9540 for further credit information.
- AIPB 2.0
- This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
CPE/NASBA - QAS Self Study 2.8 including Accounting 2.8
- 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: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Accounting for 2.8 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 37 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
Chris Fischer, CPA
Cherry Bekaert
- Manager in Cherry Bekaert’s Tax Credits and Incentives Advisory Team
- More than two years of experience assisting clients with research and development tax credits, Employee Retention Credits, energy credits, and deductions and cost segregation studies
- Educated and worked as a civil structural engineer in the metal building industry for six years
- B.S. degree in civil engineering, University of Illinois
- Can be contacted at [email protected] or 919-782-1040
Sean P. O'Leary, CPA
Cherry Bekaert
- Senior tax manager in Cherry Bekaert’s Tax Credits and Incentives Advisory Team
- More than 14 years of experience in taxation serving clients in areas including partnership, corporate, and individual tax matters
- More than eight years of experience assisting clients with research and development tax credits, energy credits and deductions, and cost segregation studies
- More than 15 years of previous experience as an electrical engineer in manufacturing and automation
- M.S degree in accounting, University of North Carolina at Charlotte; B.S. degree in electrical engineering, Clemson University
- Can be contacted at [email protected] or 704-970-1622
Ron Wainwright, CPA, MST
Cherry Bekaert
- Tax partner in Cherry Bekaert’s Tax Credits and Incentives Advisory Team
- More than 25 years of experience in taxation with a diverse client base including multi-national, public and closely held companies
- Guides clients through several taxation matters, including international and domestic tax, provisions, FIN 48, tax controversy, federal/state tax credits, and complex transactional matters
- Previous experience as a tax partner with an international firm for ten years, followed by several years with a regional firm
- Seven years of experience in a national tax role in Washington, D.C., focusing on domestic and international tax issues, mergers and acquisitions, and IRS tax controversy matters
- M.Tax. degree, Georgetown University; B.S. degree, Auburn University; Advanced Business Advisor Program, University of Chicago
- Can be contacted at [email protected] or 919-825-4221
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Why Lorman?
Over 37 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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