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.
Public accounting staff and senior associates
Tax professionals in company finance or tax departments
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