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Taxation of Property Transactions - Tax Staff Essentials

Tuesday, Jan. 12   1:00pm - 5:00pm

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Online

4.00 Credits

Member Price $139.00

Non-Member Price $169.00

Overview

A practical guide to business property transactions

A fundamental understanding of the taxation of business property transactions is essential to any tax practice. This course prepares tax professionals to handle the tax effects of common property transactions.

Topics include:

  • Depreciation recapture
  • Exchange transactions
  • Dispositions of business property

    Updated for the effects of H.R. 1, commonly referred to as OBBBA, this learning provides a current view of these essential topics.

    Tips for achieving an optimal tax result on property transactions

    Professionals are exposed to important business property-related timing issues and planning opportunities that can lower a client's tax liability.

    Strategies laid out in the course empower practitioners to consider the timing of recognizing gain and loss to achieve tax savings.

    Part of Tax Staff Essentials Level 2

    This self-study online course is part of Tax Staff Essentials Level 2, a comprehensive learning program that provides experienced tax staff with the technical training required to gain independence.

    Objectives

    • Calculate gain or loss realized and recognized on business property dispositions.
    • Apply the capital losses limitations and preferential tax rates on capital gains.
    • Determine the impact of depreciation recapture on a taxpayer's taxable income and tax liability.
    • Determine the tax basis of property received in a like-kind exchange.
    • Determine allowable cost recovery deductions for replacement property acquired in a like-kind exchange or involuntary conversion.

    Highlights

  • Sections 1231, 1245, and 1250
  • Depreciation recapture
  • Capital gains and losses
  • Nonrecognition transactions

    Designed For

  • Tax staff and senior associates in public accounting
  • Entry- and mid-level tax professionals in industry

    Prerequisites

    Basic knowledge of property transactions and taxation

    Notice

    You will receive an email from the AICPA with instructions to access the webinar.

  • Leader(s):

    Leader Bios

    Shelley Rhoades-Catanach, AICPA

    Shelley Rhoades-Catanach Ph.D., CPA “Dr. Shelley Rhoades-Catanach is a member of the accounting faculty of Villanova University School of Business, where she teaches a variety of tax and accounting courses in Villanova’s undergraduate, MBA, Master of Accounting and Professional Consultancy, and Master of Taxation programs. Prior to joining Villanova, she taught at Washington University in St. Louis. She has also served as a visiting faculty member at Darden Graduate School at the University of Virginia and at INSEAD in Fontainebleau, France. Shelley obtained her undergraduate degree in accounting from the University of Nebraska and received her Ph.D. in accounting from the University of Texas at Austin. Shelley’s research applies game-theoretic modeling techniques to examine the impact of taxes on strategic decision making in such areas as tax reporting and auditing, changes in tax policy, taxpayer rights legislation, and the impact of state taxation on firm location and investment decisions. She has published articles in journals such as The Accounting Review, Research in Accounting Studies, Journal of the American Taxation Association, Issues in Accounting Education, and Journal of Accounting Education. She is also a co-author of two textbooks: Principles of Taxation for Business and Investment Planning and Advanced Strategies in Taxation. Prior to entering academia, Shelley spent seven years at Arthur Andersen as a tax professional. She is a CPA and a member of the American Institute of CPAs, the American Accounting Association, and the American Taxation Association. She is past president of the American Taxation Association, the tax section of the American Accounting Association, and a recipient of the ATA’s Ray Sommerfeld Outstanding Tax Educator award.”

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    Non-Member Price $169.00

    Member Price $139.00