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Taking Advantage of Installment Sales and Like-Kind Exchanges Webinar

CPE

When
Aug. 19
9:00 a.m. - 1:00 p.m.

CPE Credits
4-Tax

Details

 Pricing

PICPA Member: $139 | Nonmember: $189


 More Information

Course No.
ISL4-2022-01-WEBNR-231-01
Level
Intermediate
Prerequisites
A basic understanding of the provisions for recognizing gain or loss on the sale of real property
Note
This webinar is hosted by PICPA's partner, Surgent CPE. After registering, you will receive an email from Surgent CPE with the log-in information.

Description

When real property is sold for a gain, we always try to find ways to defer recognizing income so it won’t be necessary to send a check to Uncle Sam. There are two provisions within the Internal Revenue Code that allow the taxpayer to defer recognition of immediate taxable gain in the year of sale: installment sales and like-kind exchanges. Knowing how and when to utilize these provisions makes the CPA very valuable to either their client or the entity they work for. We will also discuss recent proposals which could impact the future of these two provisions.

Highlights

  • How does the IRC define an installment sale under Section 453?
  • When can a taxpayer utilize the provisions of IRC Section 453?
  • When should a taxpayer utilize the provisions of an installment sale and when should it be avoided?
  • How does the issue of a “dealer” vs. a “non-dealer” impact the use of the installment sale method?
  • Reporting an installment sale when related parties are involved
  • Calculating an installment sale
  • How has the Tax Cuts and Jobs Act impacted the use of the installment sale method?
  • What is a like-kind exchange as defined by IRC Section 1031?
  • When can a taxpayer utilize the provisions of IRC Section 1031?
  • What types of real property are eligible for like-kind exchange treatment and what types are not
  • What is “boot” and how does it impact the like-kind exchange deferral?
  • Calculating a like-kind exchange including any taxable portion
  • How has the Tax Cuts and Jobs Act impacted the use of like-kind exchanges?
  • Recent changes to like-kind exchanges as the result of IRS final regulations
  • Changes that may be on the horizon regarding like-kind exchanges


Speaker(s)

William I. Eskin, CPA
President
WIE, Inc.

Bill is the owner of a consulting group, WIE, Inc.,in Baltimore, Maryland, that provides assistance in various accounting and financial fields including construction contractors and real estate developers. The firm's services include profit enhancement, forensic and fraud investigations, and expert witness testimony in the areas of GAAS compliance, SSARS compliance, and GAAP compliance, specifically related to identifying and proving CPA malpractice. Previously, Bill was the Director of Financial Analysis and Investigation for the world’s largest surety fidelity operation. There, he provided financial and accounting assistance, and advice to the underwriting and claims functions in addition to performing numerous forensic and fraud investigations related to employee dishonesty and other defalcations.

Bill is an annual speaker at the AICPA National Construction Conference, numerous state CPA societies, as well as many organizations related to GAAP, GAAS, and SSARS compliance. In addition, each year, he assists in the authoring and review of the AICPA annual Construction Audit Guide Update and Construction Contractors Industry Developments. Bill has recently authored and published Construction Contractors: Real-World Guide to Accounting & Auditing and Real Estate: Real-World Guide to Accounting & Auditing. In 2008, 2009, 2010, 2011, and 2013 Bill was a recipient of the AICPA's Outstanding Discussion Leader Award.


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