Don Farmer's Repair Regulations in Practice: Capitalization vs. Expense (2 hours - late morning) - Webcast
Overview
This course examines the tangible property regulations with a focus on distinguishing deductible repairs from capital improvements. Participants will analyze unit of property rules, betterment, restoration, and adaptation standards, and available safe harbors. Practical examples demonstrate how to apply the regulations in examinations and planning contexts.
Highlights
- Overview of Tangible Property Regulations
- Unit of Property Rules
- Repair vs. Capital Improvements
- Betterment, Restoration, and Adaptation Standards
- Safe Harbors and Elections
- Examination and Audit Risk Considerations
Designed For
CPAs and tax professionals
Objectives
- Apply the unit of property rules to real estate and equipment
- Distinguish repairs from capital improvements
- Analyze betterment, restoration, and adaptation standards
- Utilize available safe harbors and elections
- Identify audit risk areas related to repair regulations
Leader(s):
Leader Bios
Nicholas Preusch, Don Farmer Tax Education
Nick Preusch, CPA, J.D., LL.M., MSA, has a primary focus of performing tax services relating to emerging issues and complex tax transactions. He works closely with businesses and individuals to find tax efficiencies through ever-changing tax legislation.
Nick started his career with the Internal Revenue Service (IRS) as a revenue agent, and then as an attorney at the IRS National Office in Washington, D.C., where he was the lead attorney for several significant tax ethics cases.
Nick co-authored Tax Preparer Penalties and Circular 230 Enforcement, a textbook published by Thomson Reuters. He has also been published in the AICPA's Tax Advisor and Journal of Accountancy along with CCH's Journal of Tax Practice and Procedure. In 2017, he was named one of the VSPCA's Top 5 Under 35. In 2018, he was named to CPA Practice Advisor's Top 40 Under 40. In 2018, he was part of the AICPA's New Face of Tax ad campaign. Nick has been a member of the AICPA's Tax Practice Responsibilities Committee, Tax Executive Committee and Professional Ethics Executive Committee.
(4/15/26)
Non-Member Price $109.00
Member Price $89.00