Course ID: CL4CCD

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.


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

DESIGNED FOR
Public accounting staff and senior associates, tax professionals in company finance or tax departments

FIELD OF STUDY
Taxes

PREREQUISITES
None

COURSE PRODUCER
AICPA

CPE CREDITS
4.0

LEVEL
Basic

This course is available for your group as:

Group Internet Based: Webcast Group Live On-Demand
 

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