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Congress radically overhauled §179 and §168(k) in the Tax Cuts Jobs Act (TCJA) on 12/22/17. In this four-hour morning course, learn how §179 and bonus interplay now. For bonus, what is "used property". What retroactive cost recovery choices are available. And, what about the §163(j) election to dump MACRS and adopt ADS to avoid the interest expense limit? What new adventures await?

Highlights

  • Lucrative retroactive elections available (without former procedural hurt)
  • How does bonus change every real estate purchase your client makes?
  • Used property and anti-churning
  • Interaction with §163(j) - There's a new sheriff in town
  • Catastrophic mistakes - What if you don't elect out (or do)?
  • Partnership issues - Is bonus available when you buy a partnership? If so, how?
  • Binding written contract vs. self constructed property - Work-in-progress set free
  • Effective dates all over the place - Choices, choices, choices, choices

Credits

Category Amount
Tax 4.00
Yikes, the time is near. Please call NMSCPA at (505) 246-1699 to register.

Leaders

  • Bradley P. Burnett

    Bradley Burnett, J.D., LL.M., is a practicing tax attorney in Colorado with 33 years of tax practice experience. His practice emphasis is on tax planning and tax controversy resolution. He also prepares a handful of tax returns. Prior to establishing his own law firm in 1990, he practiced tax accounting with national and local CPA firms, worked as a trust officer for a Denver bank and managed the tax department as partner in a medium-­-sized Denver law firm. After receiving his undergraduate degree in accounting and law degree (J.D.), he earned a Master of Laws (LL.M.) in Taxation from the University of Denver School of Law Graduate Tax Program. Mr. Burnett has delivered more than 2,900 presentations on U.S. tax law, tax planning and ethics to CPAs, attorneys, enrolled agents, civic groups and corporations throughout all fifty U.S. states, Washington, D.C., the Bahamas, Italy, Greece, Turkey and Canada. He has authored the texts of 30 CPE (or CLE) courses, authored and taught tax materials for Commerce Clearing House (CCH), Practitioner Publishing Company (PPC) and written articles for national and local tax journals over the past 30 years. Bradley served for four years as adjunct professor at the University of Denver School of Law Graduate Tax Program, where he pioneered an employment tax course and occasionally pinch-­-hit in the IRS practice and procedure field. He has also appeared on television answering tax questions for call-­-in viewers of Denver NBC affiliate KUSA Channel 9. Brad has received the Illinois Society of CPAs Instructor Excellence Award for teaching in Chicago and five times has been the top rated, most requested instructor for CPA Society annual tax conferences. Burnett’s seminar style is to deliver the subject matter in briskly paced, enthusiastic and witty fashion. His forte’ is the candid communication of practical ideas relating to tax law.

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