Professionals learn about business property-related timing issues and planning opportunities that can lead to tax savings.
Learning Objectives
- Learning Outcomes
- Determine whether an activity is passive or active.
- Determine the allowable deductions for vacation homes.
- Determine the proper accounting method allowed for a business entity.
- Determine the amounts allowable for deducting travel and transportation expenses.
- Identify income categories and entity types that qualify for the qualified business income (QBI) deduction.
- Identify the rules for amortizing and expensing start-up costs, intangible assets, and research and experimentation expenditures.
- Identify property transaction provisions that apply to installment sales, inherited property, and other capital assets.
