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Current Commercial Real Estate Depreciation Strategies: Tax Year 2020

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) corrected the recovery period of Qualified Improvement Property (QIP) to 15-year. This has tremendous implications and will play a large role in a modern comprehensive tax strategy. In this session we will examine the historical treatment of Qualified Property Categories and focus on the current status of QIP under the CARES Act. We will also explore other strategies that may be part of a comprehensive tax strategy and will discuss a strategic hierarchy for employing those strategies most successfully. Relevant Rev. Procs. and several real-life case studies will be reviewed.

Learning Objectives:

• Understand the history of Qualified Property Categories.
• Explain the implications of the CARES Act's correction of QIP recovery period.
• Understand how to incorporate retroactive CARES Act changes into past returns.
• Understand the value of QIP as an indicator of Section 179-eligible property.
• Explain how strategies like Section 179 Expensing, Bonus depreciation, Tangible Property Regulations (TPRs) and Energy Incentives all contribute to a comprehensive tax strategy.
• Compare and contrast Bonus and Section 179.
• Use various tax strategies in a strategic manner to maximize savings.

Course Outline:

1. Introduction
2. The Evolution of Qualified Property Categories and QIP
3. CARES Act and Relevant Rev. Procs.
4. QIP as an Indicator of Section 179-Eligible Property
5. Parts of a Comprehensive Plan
– Section 179 Expensing
– Bonus Depreciation
– TPRs
- Energy Incentives
6. Strategic Hierarchy of Tax Strategies

Recommended CPE: 1.0 Credit
Program Level: Beginner/Intermediate
Prerequisites: General Background in Accounting, Depreciation and Cost Segregation
Advanced Preparation: None
Field of Study: Taxes

Jan 27, 2021 03:00 PM in Eastern Time (US and Canada)