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Capitalized Costs and Depreciation

  • 05/07/2019
  • 9:00 AM - 3:00 PM



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.   

Key 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
- 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.

Designed For: Public accounting staff and senior associates; Tax professionals in company finance or tax departments|
Level: Basic
Instructor: Shelley Rhoades
Developer: AICPA
CPE Credits: 6
Area of Study: Taxes  6

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