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Depreciation represents an annual income tax deduction that allows for recovery of the cost or other basis of certain property over time. It is an allowance for the wear and tear, age, deterioration, or obsolescence of the property. Depreciation, Amortization, and Property Transfers: Issues and Strategies provides an in-depth analysis of the complex maze of rules addressing depreciation, amortization, and the sale of property-- with an emphasis on identifying unique planning opportunities and pitfalls. It covers critical areas including cost segregation, repairs, capital expenditures, and investor real estate holdings, as well as recent cases and rulings involving depreciation and amortization issues and how they impact clients, along with useful planning opportunities.
Recent changes to Section 179 and “bonus” depreciation make understanding the issues and planning for depreciation deductions more important now than ever!
Major topics covered include:
This guide also covers advanced depreciation issues, including corporate liquidations, §754 basis adjustments, transfers to/from trusts, tax-deferred exchanges, personal property converted to business property, and more, including:
As a CPA in industry or public practice, you need a thorough grasp of this important area of tax law. Written in a very practical format, this guide includes many examples and charts to illustrate how to maximize tax savings for your company or your clients.