Capitalized Costs and Depreciation

From acquisition to disposition, capitalized costs and depreciation can be challenging to understand. Developed to help you gain significant tax savings for your clients, this self-study course offers a comprehensive and practical understanding of the IRS cost and repair regulations dealing with property transactions.

Also analyzed in this course are the rules for depreciation, amortization, like-kind exchanges, involuntary conversions, business property sales, and important property-related timing issues and planning opportunities. Course materials include the impact of the Tax Cuts and Jobs Act of 2017 (TCJA) tax reform law.

Learning Objectives

Learning Objective: 

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 properly for tax purposes.
  • 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 Section 179 expensing.

Topics Discussed

Topics Discussed: 
  • 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, bonus
  • Intangible assets and amortization
  • Organization and start-up costs

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COURSE CODE

TSE.CCD

FIELD OF STUDY

Taxes

CPE CREDIT HOURS

6

KNOWLEDGE LEVEL

Basic

INTENDED AUDIENCE

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

PREREQUISITE

None

ADVANCED PREPARATION

None

DELIVERY METHOD

Self-Study On-Demand

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For individual training, visit:

(U.S.) AICPAstore.com

(Outside the U.S.) CGMAstore.com


CONTACT A TRAINING REPRESENTATIVE:


1-800-634-6780 Option 1
aicpalearning@aicpa.org