Gain a comprehensive and practical understanding of the various complex tax laws dealing with property transactions from acquisition to disposition. This CPE 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 corporations.
Capital improvements and repair
Adjusted tax basis
Transfers of Property for an Ownership Interest
Salary and Self Employment Tax Issues
Allocations in Flow-through Entities
Tax Effects of S Corporation and Partnership Distributions
When you complete this course you will be able to:
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 for tax purposes properly.
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 §179 expensing.
Advance Preparation: None
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