Taxation of Property Transactions - Tax Staff Essentials

Overview

Professionals learn about business property-related timing issues and planning opportunities that can lead to tax savings.

Highlights

Sections 1231, 1245, and 1250

Depreciation recapture

Capital gains and losses

Nonrecognition transactions

Prerequisites

Basic knowledge of property transactions and taxation

Designed For

Tax staff and senior associates in public accounting

Entry- and mid-level tax professionals in industry

Objectives

Calculate gain or loss realized and recognized on business property dispositions.
Apply the capital losses limitations and preferential tax rates on capital gains.
Determine the impact of depreciation recapture on a taxpayer's taxable income and tax liability.
Determine the tax basis of property received in a like-kind exchange.
Determine allowable cost recovery deductions for replacement property acquired in a like-kind exchange or involuntary conversion.

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Shelley Rhoades-Catanach, AICPA

Leader Bios

Shelley Rhoades-Catanach, AICPA

Dr. Rhoades-Catanach joined the accounting faculty of Villanova University in 1998, and teaches a variety of tax courses in the undergraduate, Master of Taxation, MBA and Master of Accounting Programs. Prior to joining Villanova, she taught at Washington University in St. Louis and the Darden Graduate School at the University of Virginia. She has also served as a visiting faculty member in the MBA program at INSEAD in Fontainebleau, France. Before entering academia, Dr. Rhoades-Catanach spent seven years at Arthur Andersen as a tax professional.

Dr. Rhoades-Catanach’s research focuses on the impact of taxes on strategic decision making in such areas as tax reporting and auditing, changes in tax policy, taxpayer rights legislation, and the impact of state taxation on firm location and investment decisions. She is the co-author of two textbooks, Principles of Taxation for Business and Investment Planning and Advanced Strategies in Taxation and has published numerous articles in journals such as The Accounting Review, Research in Accounting Studies, Journal of the American Taxation Association, and Issues in Accounting Education.

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