Surgent's Essential Depreciation and Expensing Update

Description

The "permanent" changes from the TCJA may stand like a lion in the pathway of change, but Washington has its own definition of permanent. Inflation adjustments and technical corrections are included within this deep analysis of the complex maze of rules dealing with depreciation, amortization, and sale of property. This course contains many examples and cases to illustrate the most important points of which CPAs need to be aware.

Highlights

  • Resolved technical glitches for qualified improvement property
  • Detailed coverage of 179 expense elections and 168(k) bonus or additional first-year depreciation - how to maximize them, definitions, limitations, qualified property, etc.
  • Sale of property and the depreciation recapture rules (1245, 1250, unrecaptured 1250 gain for real estate, 291 for corporations)
  • MACRS depreciation - finding the proper method, convention, and recovery period
  • Listed property and the current limitations
  • Amortization of start-up, organization, and other expenditures
  • AMT depreciation adjustments and how to avoid them
  • Examples, cases, and rulings of depreciation and amortization issues and how they impact clients, along with useful planning opportunities

Objectives

  • Fully understand two of the most commonly prepared tax forms
  • Understand assets from acquisition to disposition
  • Complete and discuss cases highlighting some of the practical issues tax preparers face

Designed For

CPAs in industry and public accounting who need a thorough grasp of this important area of tax law and want to maximize the possible tax savings for their clients

Leaders

Douglas Stives

Doug Stives, CPA, MBA Retired Professor at Monmouth University, West Long Branch, NJ

Doug graduated from Lehigh University with a BS in Business and an MBA in 1969 and started his career with Price Waterhouse. He was President of the New Jersey Society of CPA’s in 1989-90 and served on several AICPA committees including the Tax Division Executive Committee. After PWC, Doug became a partner at The Curchin Group in Red Bank, NJ. In 2006, he joined the faculty at Monmouth University where he was named Outstanding Business Professor in 2008, 2016 and 2024. Doug retired from Monmouth in 2024 after 18 years as a full-time professor of accounting.
Media activity includes CNN, CNBC, MSNBC, FOX, PBS, and all three major networks. Doug has been quoted in national publications including The New York Times, The Wall Street Journal, Forbes, and USA Today. Doug currently teaches tax-related Continuing Education for several vendors. He enjoys sailing, skiing and travelling.