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Capitalized Costs and Depreciation

Description

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. Course materials include the impact of the Tax Cuts and Jobs Act of 2017 (TCJA) tax reform law.

Learning Objectives
  • 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
Major Topics
  • 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
Provider
AICPA
Course Level
Basic
Professional Area of Focus
Business & Industry
Tax
CPE Field of Study
Taxes
6.0
Who Should Attend

Public accounting staff and senior associates; Tax professionals in company finance or tax departments
Prerequisites

None

Location
Online
Event Information
When
May 7, 2019
10:00 am - 4:00 pm EST
Location
Online
Total CPE Credits
6.0
Format
Webcast Replay

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$159.00

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$199.00
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Capitalized Costs and Depreciation

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