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OnDemand Course

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.

Learning Objectives

  • You will be able to identify how to evaluate using the BAR test
  • You will be able to recognize and define betterments
  • You will be able to identify examples of Applicable Property, Betterments, Restorations, and Adaptations
  • You will be able to differentiate De Minimus rule expensing Safe Harbor

99 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 35 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 35 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).
     
  • CPE/NASBA - QAS Self Study 2.6 including Management Services 2.6
     
  • 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: 2.6 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Management Services for 2.6 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 35 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 35 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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Pay once and get a full year of unlimited training in any format, any time!

  • OnDemand Courses
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  • Executive Reports
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Additional benefits include:

  • State Specific Credit Tracker
  • All-Access Pass Course Concierge

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 408095
Published 2021
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