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Repairs and Capitalization

(459 reviews)

Produced on October 13, 2016

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Course Information

Time 63 minutes
Difficulty Beginner
Categories Tax

Course Description

The IRS has announced a major change in expense and capitalizations rules. Collectively these rules are known as the “Repair Regs” and it is extremely easy to get lost in their in-depth text.  

In this course, CPA and attorney Dr. Bart Basi addresses the changes to the Repair Regs and discusses how best to approach dealing with the impact these changes may have on your clients. 

Learning Objectives: 

  1. Understand how to talk about the regulations with an accountant
  2. Implement the regulations’ in their business decisions
  3. Recognize how to best save money on taxes
  4. Identify the safe harbors

Credit Information

After completing this course, Lawline will report your attendance information to {{ accredMasterState.state.name }}. Please ensure your license number is filled out in your profile to ensure timely reporting. For more information, see our {{ accredMasterState.state.name }} CLE Requirements page . After completing this course, {{ accredMasterState.state.name }} attorneys self-report their attendance and CLE compliance. For more information on how to report your CLE courses, see our {{ accredMasterState.state.name }} CLE Requirements FAQ .


Bart Basi

The Center for Financial, Legal & Tax Planning, Inc

Dr. Basi is a specialist in the areas of business succession, business valuation, mergers and acquisitions, retirement and estate planning, strategic planning, and tax aspects of business decisions for closely held and family businesses. He speaks nationwide, writes, and researches on all of these areas. He has written five loose-leaf bound books, over 300 articles, and has worked with hundreds of businesses and associations. Journals that have published Dr. Basi’s work include Money Matters, The American Journal of Small Business, the Journal of Family Law, The Journal of Estate Planning, The Tax Lawyer, Small Business Taxation, Taxation for Individuals, Taxation for Accountants, Taxation for Lawyers, The CPA Journal and The Tax Executive.

Dr. Basi is the author of “The Tax Report,” a bi-monthly report on income and estate tax matters for closely-held businesses, “Accounting and Taxes,” a monthly column distributed to individuals and trade journals, and the “Tax Tip,” a monthly tax advisory for the closely-held and family business.


  • Bachelor’s Degree in Accounting, Utica College of Syracuse University
  • Master’s Degree in Business Administration, Syracuse University
  • Juris Doctor in Law, University of Louisville
  • Doctorate in Economics and Accounting, Indiana University
  • Post-Graduate study in Taxation, Stanford University

Professional Licenses

  • Certified Public Accountant – Indiana (1967-2000)
  • Attorney at Law:
  • Kentucky (1969)
  • Pennsylvania (1972-1982)
  • Illinois (1978-present)
  • New York (2010-present)

Academic Affiliations

  • Currently holds the rank of Professor Emeritus at Southern Illinois University.
  • Formerly affiliated with Penn State University, Indiana University, The University of Louisville, and Syracuse University specializing in corporate taxation, estate planning, and business valuations.

Business Affiliations and Memberships

  • Senior Advisor, The Center for Financial, Legal and Tax Planning, Inc. The Center values approximately fifty companies per year.
  • Memberships have included the American Bar Association’s Tax Committees on estate and gift taxes, business succession, and business planning and valuation.

Former Awards, Honors and Recognitions

  • Listed in Harvard Business School Profiles in Business and Management: An International Directory of Scholars and Their Research.
  • Recipient of educational grants for advanced course work in Taxation from the Practicing Law Institute, New York.
  • Listed in The Tax Analyst Directory and the Lexis Computer Tax Library as a tax professional in the U.S., specializing in family and closely held companies.
  • Listed in Who’s Who: Comprehensive and National Registries; International Registry; Leading American Executives, and Among America’s Teachers.
  • Listed as an expert in taxes and business valuations in the Wisconsin and Illinois Register of Expert Witnesses.
  • Member of Phi Kappa Phi, national honorary, Beta Alpha Psi, accounting honorary, and Beta Gamma Sigma, business honorary.
  • Member of the Institute of Business Appraisers


Michael P. B.

Dr.Basi is the best presenter on Lawline, without exception.

Mark H.

I really liked the professor.

William C.

Great course, great presenter.

arthur s.

best program I have watched, Basi delt with a very complicated subject and made it easy to understand.

James B.

Dr. Bart is great, and he sounds like Saul Goodman.

Michael H.

The speaker made this subject very interesting.

Janet S.

Excellent update.

Diane F.

Dr. Basi is an excellent speaker. He is well organized, clear, and enthused.

Marc D.

The course was exactly what it was portrayed to be.

Roxanna T.

Very informative!

Robert V.

MCLE is always a chore; however, I always look forward to Dr. Basi's lectures. This is the third set of lectures in which Dr. Basi was included in my MCLE package. Keep him coming!

Tammy O.

Great speaker!

Hillary A.

great speaker and content!

John G.

Great and informative presentation

Stuart S.

very informative

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