(CPE Savers) Capitalized Costs and Depreciation: Key Issues and Answers

Code: CS-CCD4

Date Wednesday, August 7, 2019
Time 8:30am - 12:00pm
Central Time
Location Minnesota Society of CPAs
1650 W 82nd St Ste 600
Bloomington, MN 55431-1458
Map & directions
 
CPE credits CPE 4.0
Field(s)
of study
Taxes - Technical (4.0)
Instructor Christopher Link, CPA, CFP
Accredited Investors, Inc.
Fees
Standard member fee $99.00
checkmarkStandard nonmember fee $129.00
Early member fee $49.00

Members: Please log in to receive member fee.

Description

Gain a comprehensive understanding of the complex tax laws dealing with property transactions, from acquisition to disposition. Walk through the rules pertaining to depreciation, amortization, like-kind exchanges, involuntary conversions and sale of property, and explore property-related timing issues and planning opportunities that can lead to significant tax savings for C Corporations and S Corporations.

This course is part of the CPE Savers program, seminars led by new MNCPA instructors.

Who should take this program?

CPAs and tax professionals in public practice and in company finance or tax departments

Major subjects

  • Impact of the Tax Cuts and Jobs Act (TCJA) tax reform law on property transactions and tax planning
  • Capital improvements and repair
  • Adjusted tax basis
  • Tax depreciation and amortization
  • Like-kind exchanges
  • First-year expensing -- Section 179
  • Depreciation methods
  • Form 3115 -- change in accounting method

Learning objective(s)

  • Calculate the initial tax basis and adjusted tax basis of business property
  • Recall how to determine the tax basis of self-constructed assets
  • Distinguish between deductible repairs and capitalized improvements under new tax provisions
  • Indicate the proper classification of expenditures for tax purposes
  • Recall recent changes in the tax rules related to classification of expenditures
  • Recognize deduction recognition issues related to amortization
  • Recall fundamental points of the modified accelerated cost recovery system (MACRS) of depreciation/cost recovery
  • Recognize eligibility for immediate Section 179 expensing

Notes:

Course code Code CS-CCD4
Sponsor MNCPA
NASBA ID#: 139884
Level Basic
Format Group Live
Prerequisites Prereq. None
Advance
prep
None