Capitalized Costs & Depreciation - Tax Staff Essentials
Tuesday, May 28, 2024
Webcast or Webinar, Online
9:00 AM - 2:35 PM (opens at 8:30 AM) EST
5.5Credits
Technical Business
Registration is Open
Members
$213.00 Regular Price
Non-Members
$261.00 Regular Price
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Course Type: Webcast
Course Code: 24/AI514358
Level: Basic
Vendor: AICPA CPE Division
Field of Study: Taxes
Overview:
How do I treat a property transaction?You'll be able to answer this question after taking a focused look at the IRS cost and repair regulations. With an understanding of capitalized cost and depreciation rules, you can help your clients achieve significant tax savings. You'll also learn about the rules for:
What's going on with capitalized costs and depreciation?
Course materials cover the latest legislation, including:
Objectives:
- Recall the initial tax basis and adjusted tax basis of business property.
- Identify the tax basis of self-constructed assets.
- Distinguish between deductible repairs and capitalized improvements.
- Recall changes in the tax rules to the classification of expenditures such as materials, supplies, repairs, and improvements.
- Recall the fundamentals of modified accelerated cost recovery system (MACRS) depreciation.
- Recognize which assets are considered listed property.
- Recognize the types of purchased intangible costs that must be capitalized.