Minimizing Property Taxes: Leveraging the New IRS Repair Regs
Strategies for Cost Expensing, Fixed Asset Capitalization Policies, and Avoiding Audit Flags
New IRS Regs Effective for 2014 Reporting
Recording of a 110-minute CPE webinar with Q&A
This webinar will equip tax pros with key tools and insights to manage new challenges for the business personal property tax compliance process since the IRS issued finalized repair regulations effective Jan. 1, 2014. The panel will provide best practices for effective oversight of business personal property valuation and tax by examining the impact of the rules for significant jurisdictions at the state and local level.
- Repair regulations impact on business personal property
Definitions of personal property and exemptions
- Identifying exclusions from tangible personal property
- Identifying and properly applying exemptions
- States that still tax inventory (Texas, Louisiana, Maryland, Vermont, etc.)
- Where is the property located?
- Determining local boundaries, and where your property falls within them
- Issues with Texas, Michigan, Ohio, Wisconsin, Illinois (biggest issues)
- Mobile property
- Property leased to clients or business partners
- Tracking and inventory issues
- Valuation issues
- Internal controls
- Best practices
The panel will review the most vexing personal property tax compliance challenges and offer solutions, including:
- Identifying ghost and exempt business personal property assets and non-reportable assets.
- Conducting physical inventories to identify assets no longer on-site.
- Correcting reportable basis and depreciation.
- Studying intangible expenses that should be removed from fixed-asset books.
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
Rebekah G. Feather
Ms. Feather is a tax senior manager with more than 11 years of experience. Her background includes strategic tax... | Read More
Ms. Feather is a tax senior manager with more than 11 years of experience. Her background includes strategic tax projects such as the R&D tax credit and cost classification, healthcare consulting, and corporate tax compliance. She also has experience in assisting clients throughout the IRS exam process from field-level examinations through appeals. She has worked in a variety of industries some of which include technology, defense, oil and gas, and consumer products.Close
Director, Property Tax
Mr. Kinslow is a SALT director and the property tax leader for Grant Thornton’s Houston office. He has 17... | Read More
Mr. Kinslow is a SALT director and the property tax leader for Grant Thornton’s Houston office. He has 17 years of experience in nationwide property valuation and assessment. He has worked as a deputy assessor for real estate and personal property, and as a certified independent fee appraiser for lenders and investors. Mr. Kinslow has earned the highest-level certification in property tax, a Certified Member of the Institute, from the Institute for Professionals in Taxation (IPT).Close