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CARES Act Changes and Benefits Affecting Real Estate Owners

4.6 (540)

Warren Dazzio

CSSI- Cost Segregation Services Inc.

Wednesday, August 19, 2020 | 01:00 PM EDT

  • CPA
  • EA

1 Credit

FREE

Subject Area

Taxes

Webinar Qualifies For

1 CPE credit of Taxes for all CPAs

1 CE credit of Ethics (Federal Tax) for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-U-00248-20-O)

1 CE credit of Federal Tax Law Update for California Tax Professionals (CTEC Approved-6273) (Approval No. 6273-CE-0256)

1 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-U-00248-20-O)

1 CE credit of Federal Tax for Oregon Tax Preparers (Approval No. GEHNZ-U-00248-20-O)

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Course Description

During this uncertain time, most business owners are faced with difficult decisions regarding cash flow. There are also a number of potential benefits for the real estate industry in the CARES Act, including direct cash payments and tax advantages for real estate investors, landlords, and tenants. The new CARES Act Legislation allows your clients to use certain strategies to increase cash flow because they own commercial property or have paid for tenant improvements.

The CARES Act includes changes to the treatment of net operating losses (NOLs).  NOLS can now be used to obtain a refund through the 5 year loss carry back option in the CARES ACT.  There are also changes in the Section 461 loss limitations on how clients can use real estate losses to offset other income. For owners or tenants that pay for interior improvements, technical corrections that affect bonus depreciation and Qualified Improvement Property (QIP) were corrected.

In this webinar we will discuss :

  • How business owners are able to make cash available by utilizing existing tax laws
  • Learning about different strategies using depreciation
  • Overview the new CARES Act for real estate owners. 
  • Using Cost Segregation & QIP strategies to reduce taxes or NOL.  
  • Filing details for 2018, 2019, 2020.  
  • Using Loss Carry back Forms to capture the refund of an NOL and possible Alternative Minimum Tax (AMT) liabilities. 

Learning Objectives

  • To define CARES Act Changes to Net Operating Loss (NOL) Carrybacks, changes to the definition of Qualified Improvement Property (QIP), and changes to the Section 461 loss limitations.
  • To explain what Qualified Improvement Property is, how it qualifies for 100% Bonus Deprecation, and how to capture the benefits to projects put in service in 2017, 2018, and 2019.
  • To identify what types of properties could benefit from a Cost Segregation Study
  • To show how a Cost Segregation Study or QIP qualifying project could contribute to an NOL and using the CARES Act Loss carry back changes to create a refund for your clients
  • To define filing details to capture these benefits for your clients
  • To recognize possible Alternative Minimum Tax (AMT) implications

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Bookkeeper
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Enrolled Agent
  • Entrepreneurial CPA
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros
  • Young CPA

Testimonial

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    [no_of_record] => 540
    [average] => 4.5574
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4.6

(540)
65%
27%
7%
0%
0%

SA

Very good

MN

I like the class content.