Do you understand the new 100 percent expensing provisions and small taxpayer rules enacted under Tax Reform? The Tax Cuts and Jobs Act expanded existing bonus depreciation and immediate expensing provisions and also expanded the ability of taxpayers to use the cash method of accounting and avoid certain inventory and long-term contract accounting requirements. The IRS and Treasury Department recently issued guidance outlining how taxpayers can take advantage of these provisions. Join us to learn more about this guidance and the tax savings opportunities available as a result of Tax Reform.
- Review the new cost recovery/accounting method guidance
- Outline the requirements for taking advantage of these taxpayer favorable rules
- Review the process and requirements for filing accounting method changes and taking advantage of these opportunities
- Discuss current trends, developments and opportunities in the accounting methods and cost recovery areas
Andrea Mouw, J.D, Principal
Andrea has more than 11 years of tax experience including federal, state, and international tax issues. She provides technical analysis and assists clients in resolving accounting method issues related to income and expense recognition, capitalization, cost recovery and inventories, including identifying and adopting appropriate accounting methods and filing accounting method change requests (Form 3115). Andrea also provides guidance regarding the former Section 199 domestic manufacturing deduction and is familiar with the rules regarding the taxation of financial products and alternative investments.
Sid Kommuru, CPA, Manager
Sid has more than six years of experience with time spent in both the tax compliance and tax consulting world. His experiences in tax consulting have revolved around identifying and adopting appropriate accounting methods. His specialties include UNICAP, repairs and maintenance reviews, and preparation of Form 3115 filings. He is also experienced in pass-through entity returns for Partnerships, LLCs and S Corporations.
CPE Credits: 1
CPE Category: Taxes
Delivery Method: Internet based Group
No prerequisites or advanced preparation required. For information regarding refund, complaint and program cancellation policies, please contact Jason McKeever at 701.476.8773.