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Atlantic City STW Day 3 | Atlantic City , Special Topics

Your Course Price: $699.00
CPE Credits
Friday, September 20, 2024
Course Time
08:00am - 01:00pm
Advanced Preparation
Course Level
Knowledge of Federal Income Tax Law
Nina Tross MBA, EA
Course Description

Course Title Topic #1 - Determining Basis is the First Step

This course will cover the federal income tax basis for different types of assets. The session will discuss the adjustments to basis, the changes in basis over time, and book and tax reporting. This course will cover the basis limitations for losses passed through by business entities to the individual investor for their income tax return. The course will discuss the acquisition of an asset whether by purchase at cost under §1012, by gift under §1015, by inheritance under §1014, by divorce under §1041 or transfer of an asset into a corporation under §351 or partnership under §721.

This course will review tax planning opportunities available to specified taxpayers under specified situations throughout their lifetimes.

Course Title Topic #2 Depreciation Strategies and Tax Planning

During this course we will review the fundamentals of federal income tax depreciation. We will look at depreciation strategies, how to correct depreciation using Form 3115, accounting for deprecation recapture, and depreciation in a §1031 exchange. Treatment of the differences between tangible and intangible assets will be discussed.

Learning Objectives

Topic #1

At the completion of this course the Tax Professional will be better equipped to:

  • Identity the basis of an asset under an applicable method of acquisition.
  • How to account for the basis of different types of assets whether §1245 personal property, §1250 real property or intangible property.
  • Determine the appropriate depreciation schedule for the different asset classes determined by the asset’s convention, life, and method of depreciation.
  • Calculate the loss limitations for the investing taxpayer on the pass-through of business losses.

Topic #2

At the completion of this course the Tax Professional will be able to:

  • Identity the depreciation methods under MACRS, straight-line, declining balance, and units of production.
  • Identify the type of assets, whether tangible or intangible, and the appropriate depreciation schedule based on the statutory life of a specified asset.
  • Determine how to choose the proper method of deprecation based on the type of asset and the taxpayer’s desired tax position.
  • Determine the useful life of an asset as determined by Statute.
  • Consider the salvage value in deprecation calculations.
  • Calculate the adjusted basis of an asset at the end of the tax year and the impact of the realized gain or realized loss when the asset is disposed.

To receive the member price, first log into your member account. Your member discount will then be automatically applied. We can also take your registration by phone.

This varies by location and seminars. Please check your specific course schedule for more details.

Yes. Each attendee will need to make their own travel and hotel reservations.

Your registration confirmation will be emailed to you when your payment is processed. During our busy season, this can take up to 2-3 business days after we receive your registration.

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Yes. If you have a PTIN on file with us, we will submit your hours. To insure we have your correct info, please provide your PTIN when you register for a course. Please notify us if you have recently submitted a name change request to the IRS.

Your certificate will be emailed to you within 10 business days of the completion of the course.

Administration: Special Topics
Special Topics Refunds
  • Refunds or transfers to future education are allowed up to 7 days prior to the beginning of the course.
  • A $25 administrative fee will be charged for all course changes.
  • There are no partial refunds or discounts if a portion of the course is missed.
  • Once the Course Materials PDF is emailed, refunds are no longer available for that course.
Special Topics Registration
  • Registrations must be received no later than 7 days prior to the beginning of the course.
  • Registrations received after this date will be subject to a $35 late fee.
Special Topics Cancellation Policy
  • A $25 administration fee will be charged for all course changes.
Special Topics Changes
  • An administrative charge of $25 will be assessed when any requested course changes are made.
  • Live courses may not be retaken without additional payment.
Special Topics 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 cancelled, participants will be refunded 100% of their registration fee.
Special Topics Walk-In
  • We do not accept walk-in attendees. Payment must be received in advance of the class.
Special Topics Disclaimer
  • Special Topics materials and Special Topics 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.
  • Special Topics materials & presentations are fully protected under copyright law. Any attempt to copy for resale, distribution, or use other than personal use for tax preparation will be fully prosecuted of the law.
Special Topics Attendance Policy
  • Only paid registrants can attend seminars. In consideration of your fellow attendees, guests will need to depart before the session begins.
More Information For more information regarding refund, cancellation, and complaint policies, please contact our offices at 1(800) 367-8130.
Executive & Charter Members
Executive & Charter Members Special Topics Refunds Executive & Charter Members Special Topics Refunds
  • Executive/Charter Members will be charged a $150.00 administration fee if they fail to cancel a course registration and fail to appear for the seminar.