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Depreciating and Expensing Business Assets

  • 05/04/2021
  • 2:00 PM - 5:48 PM
  • Webinar-ACPEN

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This program will address the depreciation changes of the 2017 Tax Cuts and Jobs Act, highlighting the new capitalization and depreciation rules. Inflation increases from 2019 will be discussed. Planning opportunities and potential pitfalls will also be addressed.

*Note - This was recorded prior to the late December passage of the COVID-related Tax Relief Act of 2020.

**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.

Objectives:

  • Define the latest tax depreciation developments and special topics
  • Define and discuss planning tools and potential pitfalls
Topics Discussed:
  • 2017 tax legislation and developments related to capitalization and depreciation
  • Section 179, including 2019 inflation adjustment
  • Section 168(k) 100 percent bonus deduction
  • Depreciation of automobiles, including new luxury auto limits
  • ADS depreciation for electing farm and real estate business
Designed for: Practitioners and members in industry seeking to better understand the ever-changing depreciation rules.

Level: Intermediate

Instructor: Doug Van Der Aa, CPA, JD

Developer: Doug Van Der Aa, CPA, JD

CPE Credits: 4

Area(s) of Study: Taxes - Technical

Prerequisite: Basic knowledge of tax depreciation


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