Capitalized Costs and Depreciation (On-Demand) 2022

Description

This course provides background in depreciation methods as well as some tax planning opportunities that surround fixed assets.

How do I treat a property transaction?

This course will help you answer this question by focusing on understanding capitalized costs and depreciation and learning about the IRS cost and repair regulations dealing with property transactions so you can help your clients gain significant tax savings.

Tax professionals will also learn about the rules for depreciation, amortization, like-kind exchanges, involuntary conversions, business property sales, and important property-related timing issues and planning opportunities.

Course materials include the latest legislation, including the impact of the Tax Cuts and Jobs Act of 2017 (TCJA) tax reform law, as well as the technical correction issued in the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This course provides CPE credit in the Tax field of study.

Learning Objectives

Calculate the initial tax basis and adjusted tax basis of business property.
Determine the tax basis of self-constructed assets.
Distinguish between deductible repairs and capitalized improvements under new tax provisions.
Classify expenditures properly for tax purposes.
Apply recent changes in the tax rules to classification of expenditures and tax results.
Recognize deduction recognition issues related to amortization.
Recognize the fundamentals of the MACRS system of depreciation/cost recovery.
Recognize eligibility for immediate Section 179 expensing.

Major Topics

Tax basis of property acquisitions
Initial basis of property acquired in an exchange transaction
Materials, supplies, repairs, and improvements
Accounting method changes
Depreciation: MACRS, Section 179, and bonus
Intangible assets and amortization
Organization and start-up costs

Provider

AICPA - Durham

Course Level

Basic

CPE Field of Study

Taxes

Who Should Attend

Public accounting staff and senior associate
Tax professionals in company finance or tax departments

Instructor(s)

Shelley Rhoades-Catanach

Prerequisites

None.

Advanced Preparation

None.

Purchase Now

When

Available 24/7

Location

Online

Total CPE Credits

Format

On-Demand

$150.00

$199.00

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