Surgent's Repair Regulations Update (REPR)
The repair regulations continue to be a particularly challenging area for tax practitioners. Though technically challenging, they also present very attractive opportunities to take large deductions when new property is acquired, and existing properties are repaired. This program discusses the major components of the repair regulations, focusing on the areas that are most important to general tax practitioners with a variety of business clients.
- Materials and supplies
- What is a Unit of Property?
- Rotable, temporary, and standby emergency spare parts
- Dispositions of property and their tax consequences
- Demolition of a structure
- Mandatory and elective partial dispositions
- De Minimis Safe Harbor
- Safe Harbor for small taxpayers
- Routine maintenance safe harbor
- Improvement Tests: Betterments, Restorations, and Adaptations to a new and different use
- Relationship of the repair regulations to the new depreciation rules
- Understand and apply the final repair regulations to clients
Tax practitioners advising clients as to whether expenditures relating to the acquisition and maintenance of tangible property must be capitalized or may be expensed
Registration for this course has passed.
Applicable if you are a HSCPA member in good standing.
Applicable if you are not a HSCPA member.