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. Topics Discussed • 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

Learning Objectives
  1. Calculate the initial tax basis and adjusted tax basis of business property
  2. Determine the tax basis of self-constructed assets
  3. Distinguish between deductible repairs and capitalized improvements under new tax provisions
  4. Classify expenditures for tax purposes properly
  5. Apply recent changes in the tax rules to classification of expenditures and tax result
  6. Recognize deduction recognition issues related to amortization
  7. Understand the fundamentals of the MACRS system of depreciation/ cost recovery
  8. Recognize eligibility for immediate §179 expensing
Major Topics
  1. Capital improvements and repairAdjusted tax basisTax depreciation and amortizationFirst year expensing-IRC section 179Depreciation methodsThe latest Revenue Procedures related to the final repair regulationsand form 3115, change in accounting method
Provider
AICPA
Course Level
Basic
CPE Field of Study
Taxes
4
Who Should Attend
Public Accounting staff and senior associates, tax professionals in company finance or tax departments
Instructor(s)
Peter Bunce
Location
Online Course
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When
Dec 15, 2016
1:00 pm - 5:00 pm
Total CPE Credits
4
Format
Webcast
Instructor
Peter Bunce

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Capitalized Costs and Depreciation


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