Capitalized Costs & Depreciation - Tax Staff Essentials

Course Details

Date

Tuesday, January 14, 2025

8:00am – 1:35pm (Registration: 9:02am)

Location

Online

Field of Study

Taxation

CPE Credit

5 hours CPE credit

Level of Knowledge

Beginning

Vendor

AICPA

Prerequisites

None

Description

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:

  • Depreciation
  • Amortization
  • Like-kind exchanges
  • Involuntary conversions
  • Business property sales
  • Property-related timing issues
  • Planning opportunities

    What's going on with capitalized costs and depreciation?
    Course materials cover the latest legislation, including:
  • The requirement to capitalize and amortize Section 174 research and experimentation expenditures
  • Changes to bonus depreciation levels starting in 2023
  • The technical correction issued in the Coronavirus Aid, Relief, and Economic Security (CARES) Act

    Highlights

  • Tax basis of property acquisitions
  • Initial basis of property acquired in an exchange transaction
  • Materials, supplies, repairs, and improvements
  • Accounting method changes
  • Depreciation: MACRS, Section 179, and bonus
  • Intangible assets and amortization
  • Organization and start-up costs

    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.

    Designed For

  • Public accounting staff and senior associate
  • Tax professionals in company finance or tax departments

    • Add to Calendar

    Course Pricing

    WYOCPA Member Fee
    $213.00

    Non-Member Fee
    $261.00

    Your Price
    $261.00

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