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2014 UPDATES TO THE TANGIBLE PROPERTY REPAIR REGULATIONS

Cost Free
CPE Credits 2.0 hours
Subject Area 2.0 - Taxes
CE Credits 0.0 hours
Course Level Basic
Instructional Method Group Internet Based
Prerequisites None
Advanced Preparation None
Series: Taxes
Course Description

The Final Tangible Property Repair Regulations are now in full effect and taxpayers are required to be in compliance for the 2014 tax year. This course is designed aid tax professionals and taxpayers with the compliance aspects of these new regulations as well as tax strategies to effectively leverage these new rules.

Repair Regulations Overview and Practical Considerations:

- Common changes in accounting methods and optional elections
- The De Minimis Safe Harbor and the $5,000/$500 thresholds
- The Routine Maintenance Safe Harbor
- Relief for Small Businesses
- Disposition rules
- Changes to definitions of Betterments, Adaptations and Restorations with examples
- Changes to rules for materials and supplies

Learning Objectives

  • Understand the changes and new rules presented by the new repair regulations

  • Identify opportunities for missed deductions

  • Using the proper Accounting Methods for changes under the repair regulations

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Kbkg

Gian is currently CEO of KBKG and oversees all strategic initiatives for the company. He has over 20 years of experience in the specialty tax industry. Gian was one of the first in the country to become a "Certified Cost Segregation Professional" (CCSP) and one of the few that has provided expert witness testimony on Cost Segregation issues before the IRS. Prior to joining KBKG, Gian worked at two of the Big Four accounting firms. At PWC in Chicago, he served on the National Cost Segregation Consistency Committee where he was responsible for the development of their proprietary cost segregation software. He also developed their first in-house advanced engineering training program.

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Alexander Bagne

KBKG
Director
alex.bagne@kbkg.com
(877) 525-4462 x205

Kbkg

Alex is the Director of KBKG’s Repair Regulation practice. With more than 10 years of Big Four firm experience, Alex specializes in federal tax consulting strategies that have saved his clients millions of dollars. He has worked for Ernst & Young, Deloitte Tax, and PriceWaterhouseCoopers. His expertise includes cost segregation, energy efficiency incentives, research tax credits, fixed asset reviews, and the LIFO inventory method. Prior to working in accounting, Alex earned a BSBA in accounting from The Ohio State University, a Masters of Business Administration from the University of Minnesota, and a law degree from the Tulane School of Law in New Orleans, Louisiana. Alex is a licensed attorney and a member of the American Society of Cost Segregation Professionals. As board member for the U.S. Green Building Council (USGBC), Northeast Ohio Chapter, he is an advocate of Green construction.

Additional Materials
One page summary of the Tangible Property Repair Regulations - Rev. Proc. 2014-16 – IRS releases procedural guidance to implement Final Repair Regulations
KBKG - Decision Tree
Webinar Technical FAQs
Frequently Asked Questions
  • To receive CPE credit, you must register for the webinar before it starts.
  • CPE is available to all eligible participants within 24 hours of each webinar.
  • To receive CPE for multiple attendees, at least one person must sign up for the webinar. The post-webinar email contains a link to instructions for the proctor letter. Alternatively, you may log in to your account following the webinar and click on the MY ACCOUNT button to find a link to instructions. For paid courses, payment needs to be made for each attendee before credit will be issued.
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Presentation Slides
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NASBA Approved

CPAacademy.org (Sponsor Id#: 111889) 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: www.nasbaregistry.org.

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About Our Presenter

Kbkg
Established in 1999 with offices across the US, KBKG provides turn-key tax solutions to CPAs and businesses. By focusing exclusively on value-added tax services that complement your traditional tax and accounting team, we always deliver quantifiable benefits to clients. Our firm provides access to our knowledge base and experienced industry leaders. We help determine which tax programs benefit clients and stay committed to handling each relationship with care and diligence. Our ability to work seamlessly with your team is the reason so many tax professionals and businesses across the nation trust KBKG.