MenuClose
 Log Out
Cart 0 items
Site Search
Course Search

Weighing in on the Section 179 SUV Deduction

 Thu, 10/18/2018 from 2:00 pm to 4:00 pm
 Online
 
2.0
19 / 2-31298
Registration Status: CLOSED -- Please contact the VSCPA at [email protected] or (800) 733-8272 for availability.
Member Price
$79.00 Regular Registration
Your Price
$109.00 Regular Registration
Please Login to Register
Designed For:

*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

Prerequisite:

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

Objectives

*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  

*Recognize the Section 280F statutory unloaded gross vehicle weight rating correctly refers to the vehicle’s curbside weight  

*Recognize correctly the Section 280F Treasury Regulations changed the curbside weight standard to simply a gross vehicle weight rating standard  

*Recognize correctly the IRS is bound by Treasury Regulations while the courts are not  

*Recognize the Treasury Regulations’ curbside/GVWR anomaly presents possible late year tax planning opportunities 

Speakers

Advanced Preparation

None

Vendor

The Virginia Society of CPAs (VSCPA) is registered with the National Association of State Boards of Accountancy (NASBA) as a 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 website: NASBARegistry.org.

For more information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call (800) 733-8272.