CPE32722 - Repair & Improvement Regulations For Small Businesses - 1 Hour CPE

Learning Objective: After completing this course, the student will be able to apply the repair and capital improvement regulations. The student will also learn how to make retroactive automatic accounting method changes on Form 3115 to bring past returns into compliance with the new regulations. The course covers the treatment of materials and supplies, the de minimis safe harbor rule, application of accounting procedures, treatment with and without an applicable financial statement, capital expenditures, unit of property, building systems, improvements (betterments), repairs and maintenance, and building safe harbors. CPE Hours: Federal Tax Subject = 1 CPE Credit / Total = 1 CPE Credit Accreditation: CTEC, IRS, Enrolled Agents, NASBA CPA Field of Study: Federal Tax Subject Publication Date: 5/2/2022 Instructional Delivery Method: Self-StudyLevel: IntermediatePrerequisites: None Advanced Preparation: No Advanced Preparation Required  Author: Lee Reams, Sr., BSME, EA   Course Material