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Live Webcast Replay

Weighing in on the Section 179 SUV Deduction


Total Credits: 2 including 2 Taxes - Technical

Average Rating:
   21
Categories:
ACPEN Industry Institute |  ACPEN Tax Institute |  IRS Approved |  Tax
Speaker:
David Randall Jenkins, Ph.D.
Course Levels:
Intermediate
Duration:
2 Hours
Product Type:
Live Webcast Replay
License:

Dates


Description

The Consolidated Appropriations Act of 2015 made permanent the Section 179 $500,000 expense limitation and $2 million phase-out amounts. The Act also extended Section 168(k) through at least 2019, reducing the 50% bonus depreciation to 40% in 2018 and 30% in 2019. However, the Act left the Section 280F Statutory/Regulatory anomaly unchanged. Taxpayers benefit from Treasury’s definition of the SUV weight limits for Section 179 100% depreciation and Section 168(k) bonus depreciation purposes.

This webcast involves Section 179 depreciation expense at the partnership level in a startup operation. Although not incorporated into this webcast, Dr. Jenkins wants to share his paper, "Why Section 179(b)(3)(A)'s Business Income Limitation Does Not Apply to Partnerships or S Corporations." The paper is currently in peer review at a university tax journal. Also, the ACPEN/BPN webcast based on this paper will be first aired during the week of September 25-29, 2017. Please be sure to look for that announcement and register for the webcast.

 

Syllabus

Lesson 1.

Introduction

Lesson 2.

Consolidated Appropriations Act

Lesson 3.

Section 179 and 168(k) Comparisons

Lesson 4

The Section 179 SUV Deduction

Lesson 5

Conclusion

Basic Course Information

Learning Objectives

*Recognize correctly how the Consolidated Appropriations Act of 2015 made permanent amendments to Section 179’s 500,000 expense limitation and phase-out amounts

*Recognize correctly important tax planning distinctions between Section 179 100% depreciation and Section 168(k) bonus depreciation  

*Recognize the Section 280F statutory unloaded gross vehicle weight rating correctly refers to the vehicle’s curbside weight  

*Recognize correctly the Section 280F Treasury Regulations changed the curbside weight standard to simply a gross vehicle weight rating standard  

*Recognize correctly the IRS is bound by Treasury Regulations while the courts are not  

*Recognize the Treasury Regulations’ curbside/GVWR anomaly presents possible late year tax planning opportunities 


Major Subjects

*The Consolidated Appropriations Act of 2015, Sections 124 and 143  

*Important tax planning Section 179 100% depreciation and Section 168(k) bonus depreciation distinctions  

*The Treasury Regulation’s transformation of a statutorily imposed curb side weight limit to a gross vehicle weight rating  

*IRS is bound by the Treasury Regulation’s executive fiat


Course Materials

Speaker

David Randall Jenkins, Ph.D.'s Profile

David Randall Jenkins, Ph.D. Related Seminars and Products


David Randall Jenkins, Ph.D., received his doctorate in accounting and a master’s in accounting with an emphasis in tax from the University of Arizona. He has taught financial, managerial, and tax accounting courses at both the graduate and undergraduate levels. Dr. Jenkins is an AACSB academically qualified business school and tax professor owing to his peer reviewed journal article publications. His company, Algorithm LLC (algorithm-llc.com), is an IRS Approved Continuing Education Provider.  Dr. Jenkins may be contacted at tucjenkins@aol.com.


Additional Info

Basic Course Information

Original Recording Date

04/27/2016


Date Added to Catalog

04/13/2016


Prerequisites

This webcast is an intermediate continuing education webcast.  

It is assumed the webcast participant has basic familiarity with Section 179 100% depreciation and Section 168(k) bonus depreciation.


Advanced Preparation

None


Designed For

*CPAs  

*Attorneys  

*Enrolled Agents  

 


Course Developer

David Randall Jenkins


Yellow Book

No


Additional Information

Instructional Delivery Method

Group Internet Based


Complaint Resolution Policy

Please contact Anne Taylor for any complaints.  anne.taylor@acpen.com(972-377-8199).


Official Registry Statement

Business Professionals' Network, Inc. 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


Refund/Cancellation Policy

Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer. 


Course Registration Requirements

Online Registration


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Total Reviews: 21