Crucial Real Estate Taxation Insights Part 1

Overview

Join George Koutelieris and Greg White, CPA, as they walk through strategies for purchasing real estate, including written allocation provisions. They’ll also discuss how to easily and inexpensively break out the purchase price apportioned to improvements into its components: Building, land improvements and personal property. They’ll take a deep dive into claiming bonus depreciation, section 179 and de minimis deductions on real estate. Additionally, how to deduct remodeling costs of rental properties and owner-occupied business real estate. You’ll get practical sample documents, including cost segregation information and de minimis policies. Apportionment of purchase price to land, building, personal property and land improvement. Bonus depreciation, section 179 and de minimis expensing for real estate. Financing considerations, including whether clients should make the real property election out of section 163(j).

Highlights

Bonus Depreciation, Section 179 de minimis deductions

Prerequisites

None.

Designed For

CPAs and Tax Practiioners

Objectives

After attending this presentation participants will be able to . . .

• Recognize the mechanics of apportioning purchase price as part of a purchase and sales agreement
• Identify property that qualifies for bonus depreciation, section 179 and de minimis expensing.
• Describe how to compute the allocation of purchase price to land, building, land improvements and personal property.
• Making the election out of section 163(j) for real property businesses.