Event Description

The Final Tangible Property Repair Regulations are in full effect, yet many taxpayers are not in compliance or are missing opportunities to take full advantage of these new rules. This session covers compliance requirements as well as potential tax planning strategies on both a retroactive and prospective basis. Our presenter will also go over in-depth examples and real-life case studies. Participants will be better able to identify tax saving opportunities and be in compliance with these new regulations.

Enrolled Agent Approved

Objectives

• Evaluate changes and new requirements presented by the final repair and disposition regulations
• Identify new opportunities to deduct abandoned building components immediately, avoid recapture tax, and expense demolition costs
• Recall an in-depth knowledge of the unit of property rules

Major Subjects

• Tangible Property Regulations
• What is the Unit of Property
• What is a Restoration
• Retirements and Dispositions