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Capitalized Costs and Depreciation

  • 12/08/2020
  • 9:00 AM - 3:00 PM
  • WEBINAR AICPA

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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.

Learning Objectives:

  • 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

Topics Discussed:

    • 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

    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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