Understanding Depreciation (DEPU)

Customer Rating

Rated 5 out of 5

Field of Study
Taxes

Level
Intermediate

Credits
4

Qualifies For
IRS CPE

Price: $ 39.99

The “permanent” changes from the TCJA may stand like a lion in the pathway of change, but Washington has its own definition of permanent. Inflation adjustments and technical corrections are included within this deep analysis of the complex maze of rules dealing with depreciation, amortization, and sale of property. This course contains many examples and cases to illustrate the most important points of which CPAs need to be aware.

Additional information

year	2023
version	01
Credits	4
Company Code	Self Study
Format	On Demand
Yellow Book Approved	0
CFP Approved	0
IRS Approved	1
CTEC Approved	0
Field of Study Credits	Taxes (4)
Field of Study Department	Taxes
Course Version	2023-01
CPE Approved	1

Pre-requistes:

Basic knowledge of tax issues for property transactions

Knowledge Level:

Intermediate

Major Topics:

MACRS depreciation – finding the proper method, convention, and recovery period
Listed property and the current limitations
Examples, cases, and rulings of depreciation and amortization issues and how they impact clients, along with useful planning opportunities
Sale of property and the depreciation recapture rules (§1245, §1250, unrecaptured §1250 gain for real estate, §291 for corporations)
Resolved technical glitches for qualified improvement property
AMT depreciation adjustments and how to avoid them
Detailed coverage of §179 expense elections and §168(k) bonus or additional first-year depreciation – how to maximize them, definitions, limitations, qualified property, etc.
Amortization of start-up, organization, and other expenditures

Learning Objectives:

Understand assets from acquisition to disposition
Complete and discuss cases highlighting some of the practical issues tax preparers face
Fully understand two of the most commonly prepared tax forms

Designed For:

CPAs in industry and public accounting who need a thorough grasp of this important area of tax law and who want to maximize the possible tax savings for their clients