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Weighing in on the Section 179 SUV Deduction

 
 Thursday, Oct. 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.
VSCPA Members
$79.00 Regular Registration
Nonmembers
$109.00 Regular Registration
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.

Syllabus

Lesson 1.

Introduction

Lesson 2.

Consolidated Appropriations Act

Lesson 3.

Section 179 and 168(k) Comparisons

Lesson 4.

The Section 179 SUV Deduction

Lesson 5.

Conclusion

Related Events

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.

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