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Capitalized Costs & Depreciation - Tax Staff Essentials

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Virtual

5.50 Credits

Member Price $225.00

Non-Member Price $269.00

Overview

Depreciation, amortization, and capitalization all play an essential role in accurate tax reporting.

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
  • Research and experimental expenditures

    Prerequisites

    None

    Designed For

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

    Objectives

    • Recall the initial tax basis of business property, including those purchased and acquired in an exchange transaction.
    • Identify the tax basis of self-constructed assets.
    • Distinguish between deductible repairs and capitalized improvements.
    • Recall the tax treatment of expenditures for materials and supplies.
    • Recall the fundamentals of modified accelerated cost recovery system (MACRS) depreciation.
    • Recognize which assets are considered listed property.
    • Identify intangibles that are subject to capitalization and amortization.

    • Non-Member Price $269.00

    Member Price $225.00

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