Surgent's Essential Depreciation and Expensing Update
4.00 Credits
Member Price $159
Non-Member Price $179
Overview
This course offers a comprehensive analysis of the evolving rules surrounding depreciation, amortization, and property transactions, incorporating the latest inflation adjustments and technical corrections. It offers practical guidance through real-world examples and case studies to clarify complex rules and help professionals stay compliant and informed amid ongoing change.
Highlights
- New bonus depreciation and §179 changes under the One Big Beautiful Bill Act (OBBBA)
- Resolved technical glitches for qualified improvement property
- Detailed coverage of §179 expense elections and §168(k) bonus or additional first-year depreciation – maximizing deductions, definitions, limitations, and qualified property
- Sales 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 startup, 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
Prerequisites
Basic knowledge of tax issues for property transactions
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
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
Preparation
None
Leader(s):
Leader Bios
Michael Frost, Shareholder & Tax Partner, MDA Professional Group, P.C.
Mike Frost, CPA, is an associate and shareholder of MDA Professional Group, P.C. and has been with the Albertville office since 1989. Currently a tax partner, he specializes in all areas of income tax and small business consulting including but not limited to: business and individual income tax preparation and planning, estate and retirement planning, estate, gift, and trust tax preparation, small business consulting, Medicare planning and other elder care, audit representation, religious groups and clergy. Frost has conducted CPE engagements and seminars for the Alabama Society of Enrolled Agents and the Childcare Resource Network of Alabama and is an instructor for the Alabama Society of Certified Public Accountants. Mike has served as technical advisor for tax articles for the Sand Mountain Reporter newspaper, and has been a regular on the public speaking circuit. Mike graduated with “high honors and distinction” from Jacksonville State University with a major in accounting and a minor in finance and a 4.0 GPA. He is a member of the American Institute of Certified Public Accountants, the Alabama Society of Certified Public Accountants, and the Accountants Global Network, International. In addition, he is a graduate of the Tax Planning and Advising for Closely Held Businesses Certificate of Educational Achievement Program sponsored by the AICPA. Mike is an ordained minister and pastor. He enjoys music, and is a vocalist in a local Christian band. He is also active in his community as an Albertville Rotarian. Mike resides in Albertville, Alabama with his wife, Kay, and two children, Dylan and Sarah.
Non-Member Price $179
Member Price $159