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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 will 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
  • Determine the tax basis of self-constructed assets
  • Distinguish between deductible repairs and capitalized improvements under new tax provisions
  • Classify expenditures for tax purposes properly
  • Apply recent changes in the tax rules to classification of expenditures and tax result
  • Recognize deduction recognition issues related to amortization
  • Understand the fundamentals of the MACRS system of depreciation/ cost recovery
  • Recognize eligibility for immediate §179 expensing
Major Topics
  • Capital improvements and repair
  • Adjusted tax basis
  • Transfers of Property for an Ownership Interest
  • Salary and Self Employment Tax Issues
  • Depreciation methods
  • IRS tables
  • Allocations in Flow-through Entities
  • Tax Effects of S Corporation and Partnership Distributions
Provider
AICPA
Course Level
Basic
CPE Field of Study
Taxes
6.0
Prerequisites

None

Location
Online
Event Information
When
May 29, 2018
10:00 am - 4:00 pm EST
Location
Online
Total CPE Credits
6.0
Format
Webcast Replay

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Capitalized Costs and Depreciation


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