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Essential Depreciation and Expensing Update (TDP4)

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Downloadable PDF

Credits: 4

Qualifies For: IRS CPE

$65

Textbook

Credits: 4

Qualifies For: IRS CPE

$80
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Essential Depreciation and Expensing Update (TDP4)

  • Customer Rating
  • Field of Study
    Taxes
  • Level
    Intermediate
  • Credits
    4
  • Qualifies for

    IRS CPE

Overview

Individuals, corporations, partnerships, LLCs, trusts, estates, and nonprofits all utilize two of the most often prepared tax forms -- Form 4562 -- Depreciation and Amortization, and Form 4797 -- Sales of Business Property. This course provides a quick dissection of both of these complicated forms. New to experienced tax preparers may utilize this manual for all tax returns/entities they prepare. This reference manual contains many examples and cases to illustrate the most important points CPAs need to be aware of.

Major Topics:

  • Now that §179 depreciation rules are permanent, when will they change?
  • Detailed coverage of §179 expense election and how to maximize its use, when to use it, and what property qualifies?
  • Sale of property and the depreciation recapture rules (§§1245, 1250, unrecaptured §1250 gain for real estate, §291 for corporations)
  • MACRS Depreciation -- finding the proper method, convention, and recovery period
  • What is “Listed Property” and what are the current limitations?
  • Amortization of start-up, organization, and other expenditures
  • New regulations on capitalization of tangible assets and procedures for automatic changes in accounting method associated with the new depreciation rules
  • AMT depreciation adjustments and how to avoid them
  • Examples, cases, and rulings of depreciation and amortization issues and how they impact clients, along with the useful planning opportunities

Learning Objectives

  • Fully understand two of the most commonly prepared tax forms
  • Understand assets from acquisition to disposition
  • Discuss cases highlighting some of the practical issues tax preparers face

Designed for:

CPAs in industry and public accounting who need a thorough grasp of this important area of tax law and who want to maximize the possible tax savings for their clients

Prerequisite:

Basic knowledge of tax issues for property transactions

Advanced Preparation:

None

  • It was an awesome course. I have recommended it to a couple of CPA friends.

    - A Surgent Customer

Interested in bringing this course into your firm?

PRIVATE WEBINARS AND LIVE ON-SITE COURSES ARE AVAILABLE. LEARN MORE.
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