155. The Art of Cost Recovery: Basis, Correction, and Strategic Expensing
RegisterRodney Boswell EA, MBA
11:00am - 01:00pm MT
12:00pm - 02:00pm CT
01:00pm - 03:00pm ET
- 10:00 AM - 12:00 PM PT
- 11:00 AM - 1:00 PM MT
- 12:00 PM - 2:00 PM CT
- 1:00 PM - 3:00 PM ET
This course will assist Tax Professionals in understanding and establishing depreciable basis, capitalization vs. repairs under tangible property rules, §179 vs. §168(k) strategy, and correcting depreciation issues (amended returns vs. Form 3115). This presentation will deliver a technical deep dive into fixed asset treatment and depreciation planning, including how to fix common errors using proper procedures and clean up client files.
At the end of the session tax Professionals will be better equipped to:
- Analyze depreciable basis and distinguish capitalized acquisition costs from repairs/ maintenance under the tangible property framework.
- Differentiate property eligible for §179 expensing (including qualifying real property improvements where applicable) versus property eligible for §168(k) bonus depreciation (qualified property concepts).
- Evaluate when to elect out of bonus depreciation by class versus applying §179 on an asset-by-asset basis to manage taxable income and limitations.
- Apply depreciation correction rules: identify when an amended return is appropriate versus a method change (Form 3115) with a §481(a) adjustment.
- Implement a fixed-asset advisory workflow: intake questions, documentation standards, and a “clean schedule” deliverable to reduce future errors.
Official Registry Statement:
The National Society of Tax Professionals 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.
CTEC Disclosure Statement:
The National Society of Tax Professionals has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual "continuing education" requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.
Disclaimer:
Group Internet Based courses are interactive audio-visual presentation courses led by an NSTP Instructor. These courses include a pre-recorded session and may also include PowerPoints slides, a PDF textbook or both.
Although the NSTP has made every effort to ensure the accuracy of the materials and the seminar presentation, neither the author, the presenter nor the National Society of Tax Professionals assumes any responsibility for any individual's reliance on the written or oral information presented during the presentation. Each attendee should verify independently all statements made in the materials and during the seminar presentation before applying them to a particular fact pattern and should determine independently the tax and other consequences of using any particular device, technique or suggestion before recommending the same to a client or implementing the same on a client's or on his or her own behalf.
Administration Policies:
Registration
- Effective upon registration confirmation, the following applies: Due to the proprietary nature of NSTP course materials, all webinar and live-streaming course purchases are non-refundable, non-cancelable, and may not be transferred to another NSTP course.
- Executive Members who register and do not attend, will be charged the full course price.
- It is essential for each participant to register using their own name and email address; logging in with a different email may result in no CE credits being reported.
- Each link is unique to the registered email address and will not function if forwarded to another email.
Attendance Monitoring For CE
Group Internet Based courses use a popup tool to monitor attendance. According to guidelines, you need to respond to at least three popups per hour to qualify for continuing education credits. We have included several additional pop ups throughout the course to ensure that all participants have the opportunity to earn the full CE credits. CE credits cannot be earned by participating in the course via phone only.
Other Administration
- Once registrations are finalized, a link will be sent to the registrant's email address via BigMarker. Don't see your link? Check your spam and junk folders before contacting NSTP.
Cancellation
NSTP reserves the right to cancel any program or course for circumstances that are not under direct control of NSTP. If a course or program is canceled, participants will be refunded 100% of their registration fee.
More Information
For more information regarding refund, cancellation and complaint policies, please contact our office at 800-367-8130.
