Webinar

Capitalized Costs and Depreciation: Key Issues and Answers

Gain a comprehensive and practical understanding of the various complex tax laws dealing with property transactions from acquisition to disposition. This course provides analysis of the rules dealing with depreciation, amortization, like-kind exchanges, involuntary conversions and sale of property. It also covers important property-related timing issues and planning opportunities that can lead to significant tax savings for C Corporations and S Corporations. TOPICS DISCUSSED  Capital improvements and repair  Adjusted tax basis  Tax depreciation and amortization  First year expensing-IRC section 179  Depreciation methods  Form 3115, change in accounting method

Objectives

When you complete this course you will be able to:
  • Calculate the initial tax basis and adjusted tax basis of business property.
  • Recall how to determine the tax basis of self-constructed assets.
  • Distinguish between deductible repairs and capitalized improvements under new tax provisions.
  • Indicate the proper classification of expenditures for tax purposes.
  • Recall recent changes in the tax rules related to classification of expenditures.
  • Recognize deduction recognition issues related to amortization.
  • Recall fundamental points of the MACRS system of depreciation/cost recovery.
  • Recognize eligibility for immediate 179 expensing.

Additional Information

Designed For

Public accounting staff and senior associates, tax professionals in finance or tax

Vendor

American Institute of CPAs

Field of Study

Taxes

Course Number

171369127

Level of Knowledge

Basic

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