Learning Objective: After completing this course, the student will be able to apply the repair and capital improvement regulations. 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: Federal Tax Subject = 1 CPE Credit / Total = 1 CPE Credit
Accreditation: CTEC, IRS, Enrolled Agents, NASBA CPA
Field of Study: Federal Tax Subject
Publication Date: 1/30/2020
Instructional Delivery Method: Self-Study
Advanced Preparation: No Advanced Preparation Required
Author: Lee Reams, Sr.
Course Material: A copy of the course material is available for download under the Additional References tab.
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Certified Public Accountants: ClientWhys 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.
ClientWhys is an approved provider for IRS, NASBA QAS, CTEC and the Oregon Tax Preparer Board providing continuing education for CPAs, EAs, IRS and CRTPs.
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