Delivery Method: Self-Study
Learning Objectives - After completing this course, the student will be able to apply the new repair and capital improvement regulations that became final in 2014. The student will also learn how to make retroactive automatic accounting method changes on Form 3115 to bring past returns into compliance with the new regulations. Course covers the treatment of materials and supplies, the de minimis safe harbor rule, application of accounting procedures, treatment with and without an applicable financial statement, capital expenditures, unit of property, building systems, improvements (betterments), repairs and maintenance, and building safe harbors.
CPE Hours: 1 ( Federal Tax Subject:1 )
Publication Date: 01/22/2015
Author: Lee T. Reams, Sr.
Prerequisites: Basic Understanding of Tax Preparation
Final Exam Grading Policy: Course material must be completed within 12 months of purchase. A score of 70% or better is needed for passing. The completion certificate will be automatically generated by the system.
Accreditation: CTEC, Enrolled Agents, IRS, NASBA-QAS