Capitalized Costs and Depreciation: Key Issues and Answers
Gain a comprehensive and practical understanding of the
various complex tax laws dealing with property transactions from acquisition to
disposition. This course provides analysis of the rules dealing with depreciation,
amortization, like-kind exchanges, involuntary conversions and sale of
property. It also covers important property-related timing issues and planning
opportunities that can lead to significant tax savings for C Corporations and S
• Capital improvements and repair
• Adjusted tax basis
• Tax depreciation and amortization
• First year expensing-IRC section 179
• Depreciation methods
• IRS tables
When you complete this course you will be able to:
• Calculate the initial tax basis and adjusted tax basis of
• Determine the tax basis of self-constructed assets.
• Distinguish between deductible repairs and capitalized
improvements under new tax provisions.
• Classify expenditures for tax purposes properly.
• Apply recent changes in the tax rules to classification of
expenditures and tax result.
• Recognize deduction recognition issues related to
• Understand the fundamentals of the MACRS system of
• Recognize eligibility for immediate §179 expensing.
Who Should Attend: Public Accounting staff and senior associates; tax professionals
Speaker: Michael A. Frost, CPA
Field of Study: Taxes
CPE Credits: 4
Yellow Book: No