This presentation highlights the latest legislative changes affecting depreciation and capitalization rules, including inflation increases and Section 179 and 168(k) deductions. Planning and potential pitfalls will also be presented.
**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 kori.herrera@acpen.com.
DESIGNED FOR
CPAs in public practice and members in industry seeking to better understand the ever-changing depreciation rules
BENEFITS
- Identify the latest legislation and regulations regarding depreciation and capitalizing business assets
- Identify planning opportunities and potential pitfalls
HIGHLIGHTS
- Recent tax legislation, rules and developments related to capitalization and depreciation
- Capitalization of tangible property, including materials and supplies, building and improvements
- Small taxpayer safe harbor
- Section 179, including 2020 inflation adjustment
- Section 168(k) 100% bonus deduction
- Late bonus depreciation election
- Qualified improvement property
PREREQUISITES
Basic working knowledge of tax depreciation
ADVANCE PREPARATION
None