From acquisition to disposition, capitalized costs and depreciation can be challenging to understand. Developed to help you gain significant tax savings for your clients, this self-study course offers a comprehensive and practical understanding of the IRS cost and repair regulations dealing with property transactions. Also analyzed in this course are the rules for depreciation, amortization, like-kind exchanges, involuntary conversions, business property sales, and important property-related timing issues and planning opportunities.
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 result. -Recognize deduction recognition issues related to amortization. -Understand the fundamentals of the MACRS system of depreciation/cost recovery. -Recognize eligibility for immediate Section 179 expensing.
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, bonus
-Intangible assets and amortization
-Organization and start-up costs
Public accounting staff and senior associates
Tax professionals in company finance or tax departments