December 1, 2026

Webcast

2 CPE Credits

Don Farmer's Repair Regulations in Practice: Capitalization vs. Expense

December 1, 2026
Webcast
2 CPE Credits

Don Farmer's Repair Regulations in Practice: Capitalization vs. Expense

  • View Bio

    Instructor

    Nick
    Preusch

    View Bio

    Nick Preusch

    Bio

    Nick Preusch's, CPA, JD, LLM, primary focus is performing tax services for high wealth individuals and mid-to-large business entities. His responsibilities include tax research related to complex business transactions and tax return preparation and review. Nick also works closely with businesses to find tax efficiencies through ever-changing tax legislation.

    Nick is an IRS attorney at the IRS National Office in Washington, DC, where he was the lead attorney for several significant tax ethics cases. He is a licensed attorney in New York and a certified public accountant in Virginia. Nick earned an LLM in Taxation from Georgetown University, a JD from Case Western Reserve University, and an MS in Accounting from the University of Connecticut.

Few tax issues call for as many judgment calls as the line between a deductible repair and a capital improvement. This course examines the tangible property regulations with a focus on making that distinction correctly. Participants will analyze the unit of property rules; the betterment, restoration, and adaptation standards; and the safe harbors and elections available to taxpayers. Practical examples show how to apply the regulations in both planning and examination contexts, with attention to the documentation needed to support a position.

Learning Objectives

1. Apply the unit of property rules to real estate and equipment

2. Distinguish repairs from capital improvements

3. Analyze betterment, restoration, and adaptation standards

4. Use available safe harbors and elections

5. Identify audit risk areas related to repair regulations

Major Topics

• Overview of tangible property regulations

• Unit of property rules

• Repairs vs. capital improvements

• Betterment, restoration, and adaptation standards

• Safe harbors and elections

• Examination and audit risk considerations

CPE Credits Available

2 CPE Credits
2
Taxes

Things to Know About This Course

Course Level

  • Intermediate

Professional Area of Focus

  • Tax

Prerequisites

Working knowledge of federal income taxation of businesses, including depreciation and capitalization concepts.

Advanced Preparation

None

Intended Audience

CPAs and tax professionals involved in the world of tax.

Provider

Don Farmer Tax Education

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