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Course/Product Description
Title:

IRS Repair And Maintenance Regulation Update

SKU:WC-1023901
Date / Time: Recorded
Format: Webinar
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Description:

The Internal Revenue Service (IRS) has finalized the regulations regarding the deduction and capitalization of expenditures related to tangible property (commonly referred to as the repair and maintenance regulations).

This webinar will review Revenue Procedure 2015-20 and the 3115 relief for small taxpayers. There are new provisions in the regulations that you should be aware of and affect virtually all types of businesses.

Five main areas affected by these regulations include materials and supplies, repairs and maintenance, capital expenditures, amounts paid for the acquisition or production of tangible property and amounts paid for the improvements of tangible property. Included in the final regulations are favorable tax changes that could benefit you and your business. Additionally, it is important to stay up to date and comprehend the final regulations to ensure compliance with the IRS.

AGENDA

Background

  • Old Rules to New Rules
  • Rules and Regulations: 2014 and Beyond
  • Components of a Building
Capitalization Standards
  • Betterment
  • Restoration
  • Adaptation
Improvements to Tangible Property
  • Tax Return Implications
Safe Harbor Rules
  • De Minimis Rule
  • Routine Maintenance Safe Harbor
Updates to the Regulations Since Finalization
  • Rev. Proc. 2015-20 - Small Taxpayer Relief
  • Rev. Proc. 2015-56 - Safe Harbor for Retail and Restaurant Operators
  • Increase in De Minimis Safe Harbor Limit
Capitalization Decision Flowchart (Handout)
About The Presenter

Jim Forbes, CPA
  • Tax partner in the office of Skoda Minotti, Cleveland
  • 23 years of public accounting experience including 11 years with an international CPA Firm
  • Practice emphasizes all aspects of corporate tax
  • Conducted numerous repair and maintenance studies for clients
  • Member of the AICPA and Ohio Society of CPAs
  • B.B.A. degree, University of Toledo
Dennis C. Murphy, Jr., CPA
  • Senior manager in the office of Skoda Minotti, Cleveland
  • 11 years of public accounting experience surrounding the real estate and construction industries
  • Practice emphasizes all aspects of the real estate and construction industries
  • Presents seminars and workshops related to the real estate and construction industries and the final tangible property regulations
  • Wrote several publications related to the areas of the real estate and construction industries and the final tangible property regulations
  • Selected to participate in The Growth Partnership's Partner Institute
  • Member of the AICPA and Ohio Society of CPAs
  • Member of the NAIOP (Commercial Real Estate Development Association) Developing Leaders Program
  • B.B.A. degree, Ohio University


Cannot Attend The Live Presentation?

This presentation is also available in a recorded format, in CD version, as shown in the pricing options below.

About Webcasts / Audio Conferences / Podcasts:

Webcasts, audio conferences, and podcasts are presentations that you attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.

The live versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back at work immediately after the session ends!

And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous times and to share it with others in your office.

Handout materials and the phone number for live presentations are made available to you prior to the event via email from the presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.

About The Provider: Lorman Education Services has provided educational seminars and online training for professionals since 1987.

Since then, we've kept thousands of professionals in the United States and internationally current on the most pressing topics in a rapidly changing marketplace of ideas. Like you, we understand the need for concise, accurate information.

That understanding underlies each Lorman course, presenting the latest information on the laws and regulations critical to your organization's successful daily operations.

Moreover, each course receives our painstaking attention to be certain both the faculty and participants receive the individual attention necessary to achieve maximum benefit from the materials.
More Info: Contact Us For More Information
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