The Art of Cost Recovery: Basis, Correction, and Strategic Expensing
RegisterRodney Boswell EA, MBA
June 10, 2026
Session 2
Registration: 10:50 AM
Session 2 Begins: 11:00 AM
Session 2 Concludes: 1:00 PM
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.
Administration Policies: In Person Events
The following policies apply to all individuals attending our events, regardless of membership status.
Attendance Policy
- Advance registration is encouraged. To ensure your seat in the class, payment must be received and confirmed prior to admission.
- Attendance is limited to paid registrants only. Out of consideration for all participants, guests and non-registered individuals may not attend seminar sessions and must leave before the program begins. If you require assistance getting to or from an NSTP course, seminar, or event, please contact the NSTP office in advance so appropriate arrangements can be made
- Executive Members who do not attend a registered event will be charged a $150 No-Show Fee.
Late Registration Fees
- 14 days prior to the event: $50.00
- 7 days prior to the event: $75.00
- 2 days prior to the event: $95.00
Cancellations, Transfers & Refunds
- 30+ days prior to the event: Transfer to another event for $35 or receive a full refund.
- 15–29 days prior to the event: Transfer to another event for $50 or receive a refund.
- 7–14 days prior to the event: Transfer to another event for $75. No refunds.
- No partial refunds or discounts will be issued for missed portions of the course.
Disclaimer
- Course materials and presentations are intended to stimulate thought and discussion and to provide attendees useful ideas and guidance in the areas of federal taxation and administration. These materials as well as the comments of the instructors do not constitute and should not be treated as tax advice regarding the use of any tax procedure, tax planning technique, device or suggestion, or any of the tax consequences associated with them.
- 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 device, technique, or suggestion before recommending the same to a client or implementing the same on behalf of a client, or on the attendee’s own behalf.
- Course materials & presentations are protected under copyright law. Any unauthorized copying, resale, distribution, or use beyond personal use is prohibited and will be prosecuted to the fullest extent of the law.
- 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 cancelled, participants will be refunded 100% of their registration fee.
More Information
For more information regarding refund, cancellation, and complaint policies, contact our offices at 1(800) 367-8130.
