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Capitalized Costs and Depreciation - Tax Staff Essentials

Author/Moderator: Shelley Rhoades-Catanach, Ph.D., CPA
Publisher: AICPA
Availability: Online Access
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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.

Topics Discussed

  • Capital improvements and repair
  • Adjusted tax basis
  • Transfers of Property for an Ownership Interest
  • Salary and Self Employment Tax Issues
  • Depreciation methods
  • IRS tables
  • Allocations in Flow-through Entities
  • Tax Effects of S Corporation and Partnership Distributions

Learning Objectives
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.

Prerequisites: None

Advance Preparation: None

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NASBA Field of Study: Taxes
Level: Basic
Recommended CPE Credit: 7
Capitalized Costs and Depreciation - Tax Staff Essentials
CPE On-Demand , 2015
Product# 157591
Availability: Online Access 1 Year
For registered users only
AICPA Member:$169.00
Your Price:$209.00
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