The New Section 163(j) Interest Expense Deduction (2 hours)

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Apr 9, 2020

Registration: 9:00 AM / Program: 9:30 AM - 11:30 AM

Fees

Member Fee: $0.00
Nonmember Fee: $0.00

Available Discounts

AICPA Member: None
Full time Accounting Educator: None

Description

Beginning in 2018, most business with over $25 million in average gross receipts must deal with a new limit on their interest expense deductions, now 30% of adjusted taxable income. This "simple" limitation took the IRS over 250 pages to flesh out in proposed regulations. This presentation will help you understand this major new provision, along with the pros and cons of electing out. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Designed For

CPAs and members in industry seeking to better understand the new interest expense deduction rules.

Objectives

Gain a better understanding of Section 163(j) and its application to business entities.

Review recent legislation, proposed regulations, and developments.

Major Subjects

  • Broad of definition of interest.
  • Gross receipts test.
  • Aggregation.
  • Ordering rules for deductions and carryforwards.
  • Rules for C corporations.
  • Application to partnerships, S corporations and their owners.
  • Electing out by excepted trades or business (real estate, farming and regulated utility businesses.
  • Rev. Proc. 2018-59 Safe Harbor.
  • Required use of ADS depreciation.
  • Reporting on Form 8990.

This event has already passed. If you have any questions, please contact us at 503-641-7200 or email profdev@orcpa.org.