Practical Application of the Tangible Property Regulations
Total Credits: 2
- Average Rating:
- Not yet rated
- Speakers:
- David Donnelly, CPA | James A. Smith, CPA, CGMA
- Course Levels:
- Intermediate
- Duration:
- 2
- License:
- Access for 1 year(s) after purchase.
Description
The Tangible Property Regulations went into effect on January 1, 2014. On February 13, 2015, the IRS released the "repair regs" under Rev. Proc. 2015-20. These were billed as providing relief for small taxpayers struggling with the tangible property regulations. However, as with most attempts to help taxpayers this "relief" is a mixed blessing for some taxpayers. Learn how, as a practical matter, availing oneself of the processes contained in Rev. Proc. 2015-20 could cause the taxpayer to miss out on important tax savings. ACPEN’s expert practitioners will explain the practical impact of under the repair regulations. Both practitioners and taxpayers need to be wary of the possible traps of employing Rev. Proc. 2015-20 and the tangible property regulations.
Speaker
David Donnelly, CPA Related Seminars and Products
David Donnelly, CPA, is a partner in the Houston, Texas firm of Carr, Riggs & Ingram, LLC (CRI). He has been twice named as one of the “Nation’s Top 100 Most Influential Practitioners” by CPA Magazine and NPA Magazine. David has over 32 years of public accounting experience. He is the Tax Director for the Houston office of CRI. Prior to entering public accounting, David served as a controller in the communications industry for 6 years after receiving a BBA, with Honors, from the University of Texas at Austin. David's primary clients are in real estate development operations with a client base extending to non-profits, oil and gas trading, advertising, engineering and the arts. David serves on the State and Federal Tax Policy Committee for the Texas Society of Certified Public Accountants and is on the Board of Directors for the TSCPA and the Houston CPA Society. He is a member of the AICPA and serves on the AICPA Tax Practice Management Committee.
James A. Smith, CPA, CGMA Related Seminars and Products
Managing Director
Smith, Jackson, Boyer & Bovard, PLLC
James A. (Jim) Smith, CPA, CGMA, serves as Managing Director of Smith, Jackson, Boyer & Bovard, PLLC, a Dallas Certified Public Accounting firm. He practices extensively in tax compliance, planning and controversy representation for individuals and entrepreneurial businesses. He also is engaged in the preparation, compilation and review of financial statements; exit strategy planning for entrepreneurs; merger and acquisition planning and transactions; and forensic accounting and litigation services.
Mr. Smith served as Chair of the Texas Society of CPAs (TSCPA) for the 2007-2008 year, and as a member of its Professional Standards and Federal Tax Policy Committees since their inception. He served as a member of the AICPA Council 2007 through 2011 and from 2012 through 2015. He also served as an appointed member of two of the AICPA’s key standard setting committees: the Accounting and Review Services Committee from 2008 through 2011 and the Tax Practice Responsibilities Committee, 2014 to 2017.