Sect. 263(a) and the New 2012 Repair Regulations
Adjusting Tax Planning and Compliance for the Latest Cost Capitalization Rules
Recording of a 110-minute CPE webinar with Q&A
This teleconference will provide corporate tax professionals and advisors with an in-depth analysis of the new repair regulations and outline best practices for honing corporate compliance and planning.
- Proposed and temporary regulations issued December 2011 (TD 9564, REG-168745-03)
- Clarify and expand current standards under sections 263(a) and 162(a)
- Provide rules for applying these standards
- Guidance on accounting for, and dispositions of, property subject to Sect. 168
- Incorporate many existing standards under Sect. 263(a)
- Address handling of:
- Materials and supplies
- Rentals and leased property
- Amounts paid to acquire or produce tangible property
- Amounts to improve property
- Accounting and disposition rules for MACRS property
- Changes from 2008 proposal include:
- Revised rules for determining if amount paid is for improving a building
- Revised rules for determining if amount is paid for replacing a major component or substantial structural part
- Expanded definition of materials and supplies
- Alternative optional method of accounting for temporary spare parts
- Election to treat certain materials and supplies under de minimis rule
- Effective date tax years starting on or after Jan. 1, 2012
- Critical compliance challenges and tax planning structures related to the new repair regulations
The panel will analyze what has and has not changed from the 2008 proposed regulations when it comes to treatment of:
- Repairs, materials and supplies.
- Expenditures to acquire or produce, or to repair or otherwise improve, tangible property.
- Accounting and disposition rules for MACRS property.
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
Director, Federal Tax Services Group
He joined the firm's Federal Tax Services Group in 2000 and consults on technical tax matters related to the timing of... | Read More
He joined the firm's Federal Tax Services Group in 2000 and consults on technical tax matters related to the timing of income and deductions for federal income tax purposes. He works with a broad range of industries on core federal tax accounting methods, transaction costs, capitalization issues and depreciation.Close
Brockman Coats Gedelian & Co.
She has worked at the firm for 12 years and specializes in tax planning and strategy for multi-state clients.| Read More
She has worked at the firm for 12 years and specializes in tax planning and strategy for multi-state clients.Close
Senior Tax Manager
He has more than 20 years of tax experience, particularly in working with the real estate and construction industries.... | Read More
He has more than 20 years of tax experience, particularly in working with the real estate and construction industries. He previously held tax positions with a national accounting firm and a financial services organization.Close
Mr. Strong has more than 19 years of public accounting and private sector experience. He is part of the... | Read More
Mr. Strong has more than 19 years of public accounting and private sector experience. He is part of the firm's National Tax Office and monitors federal legislative and regulatory changes, and also works with its Federal Solutions Practice group on inventory and accounting method issues.Close