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Strategic Alternatives to QIP and Recent IRS Updates to TCJA Rules
Qualified Improvement Property (QIP) has undergone a number of changes over the years. In this session we will examine the historical treatment of Qualified Property Categories and focus on the current status of QIP under tax reform. We will discuss the “QIP controversy” and the associated challenges that taxpayers face as a result. We will also consider several other strategies that might be used in place of QIP, and explore a strategic hierarchy for employing those strategies most successfully. An overview of the 9/13/19 updates to the TCJA written binding contract (WBC) and bonus rules will also be reviewed.

Learning Objectives:

• Understand the history of Qualified Property Categories.
• Explain the implications of the current status of QIP under the Tax Cuts and Jobs Act (TCJA).
• Become familiar with legislative efforts in place to encourage correction of QIP status.
• Understand the value of QIP as an indicator of Section 179-eligible property.
• Explain how strategies like Section 179 Expensing, Bonus depreciation, and the Tangible Property Regulations (TPRs) may be used even without Bonus-eligible QIP.
• Compare and contrast Bonus and Section 179.
• Use various tax strategies in a strategic manner to maximize savings.
• Understand the recent updates to the TCJA WBC and bonus rules.

Course Outline:

 Qualified Property Categories Under the PATH Act
 QIP Under the Tax Cuts and Jobs Act
– Intention
– Reality
– Legislative Updates
 QIP as an Indicator of Section 179-Eligible Property
 Options to Consider
– Section 179 Expensing
– Bonus Depreciation – including 9/13/19 legislative updates
– TPRs
 Strategic Hierarchy of Tax Strategies

Recommended CPE: 1.0 Credit
Program Level: Beginner/Intermediate
Prerequisites: General Background in Accounting, Depreciation and Cost Segregation
Advanced Preparation: None
Field of Study: Taxes

Jan 22, 2020 12:00 PM in Eastern Time (US and Canada)

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