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IRS Repair and Maintenance Regulation Update

Learn how to comply with the repair and maintenance regulations and where to make the necessary accounting method changes.

The final tangible property repair regulations are in full effect, yet many taxpayers are not in compliance or are missing opportunities to take full advantage of these new rules. This topic covers compliance requirements as well as potential tax planning strategies on both a retroactive and prospective basis. This material will also cover in-depth examples and real-life case studies. You will be better able to identify tax saving opportunities and be in compliance with these new regulations.

101 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 34 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

Repair Regulations Overview and Practical Considerations

  • Common Changes in Accounting Methods and Optional Elections
  • The De Minimis Safe Harbor and the $5,000/$500 Thresholds
  • The Routine Maintenance Safe Harbor
  • Relief for Small Businesses
  • Disposition Rules
  • Definitions of Betterments, Adaptations, and Restorations With Examples
  • Rules for Materials and Supplies
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Why Lorman?

Over 34 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 March 30, 2021.

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).
     
  • 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.

MP3 Download

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

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Why Lorman?

Over 34 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

Malik Javed, CCSP

Malik Javed, CCSP

KBKG

  • Principal and oversees engineering operations for cost segregation projects at KBKG
  • Certified member of the American Society of Cost Segregation Professionals (ASCSP) and is currently a member of the ASCSP Technical Standards Committee
  • Since joining KBKG in 2004, he performed hundreds of cost segregation studies, regularly reviewed architectural and engineering drawings and construction cost budgets
  • Responsibilities include site inspections of residential, commercial, and manufacturing facilities; has also successfully represented KBKG’s clients in an IRS audit
  • Prior to joining KBKG, he worked as a resident engineer in construction management at PEPAC; he was responsible for the overall performance and quality of work; including the verification of bills, estimates, and claims, as well as supervising the construction of buildings in accordance with design and specifications
  • M.S. degree in engineering management; B.S. degree in civil engineering, California State University, Northridge
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Why Lorman?

Over 34 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.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
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  • MP3 Downloads
  • Course Manuals
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  • Executive Reports
  • White Papers and Articles
  • Sponsored Live Webinars

Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

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Product ID: 408095
Published 2021
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