*Recognize correctly how the Consolidated Appropriations Act of 2015 made permanent amendments to Section 179’s 500,000 expense limitation and phase-out amounts*Recognize correctly important tax planning distinctions between Section 179 100% depreciation and Section 168(k) bonus depreciation
This webcast is an intermediate continuing education webcast. It is assumed the webcast participant has basic familiarity with Section 179 100% depreciation and Section 168(k) bonus depreciation.
The Consolidated Appropriations Act of 2015 made permanent the Section 179 $500,000 expense limitation and $2 million phase-out amounts. The Act also extended Section 168(k) through at least 2019, reducing the 50% bonus depreciation to 40% in 2018 and 30% in 2019. However, the Act left the Section 280F Statutory/Regulatory anomaly unchanged. Taxpayers benefit from Treasury's definition of the SUV weight limits for Section 179 100% depreciation and Section 168(k) bonus depreciation purposes.This webcast involves Section 179 depreciation expense at the partnership level in a startup operation. Although not incorporated into this webcast, Dr. Jenkins wants to share his paper, "Why Section 179(b)(3)(A)'s Business Income Limitation Does Not Apply to Partnerships or S Corporations." The paper is currently in peer review at a university tax journal. Also, the ACPEN/BPN webcast based on this paper will be first aired during the week of September 25-29, 2017. Please be sure to look for that announcement and register for the webcast. SyllabusLesson 1.IntroductionLesson 2.Consolidated Appropriations ActLesson 3.Section 179 and 168(k) ComparisonsLesson 4. The Section 179 SUV DeductionLesson 5. Conclusion
Delivery Method: Individual webcast
CPE Credit: Taxes
Program Level: Intermediate