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Capitalized Costs and Depreciation: Key Issues and Answers (105-16)
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Gain a comprehensive and practical understanding of the various complex tax laws dealing with property transactions from acquisition to disposition. This course provides analysis of the rules dealing with depreciation, amortization, like-kind exchanges, involuntary conversions and sale of property. It also covers important property-related timing issues and planning opportunities that can lead to significant tax savings for C Corporations and S corporations.

9/19/2016
When: Monday, September 19, 2016
7:30 AM
Where: UACPA Training Room
136 S Main Street Suite 510
Salt Lake City, Utah  84101
United States
Presenter: Dennis Riley
Contact: April Deneault
801-466-8022


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Acronym CL4CCD16
CPE 4 hours
Category
Tax
Level Basic
Vendor AICPA
Who should attend

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

Prerequisite
None
Fees: Early Bird
Standard
Member N/A
$170
Non-Member: N/A
$195

The Member rate applies to UACPA members and reciprocal state society members. To register online, use the ‘Register’ button above. To register by phone, call the UACPA at 801.466.8022, Monday through Friday, 8am to 4pm.

Description 
Gain a comprehensive and practical understanding of the various complex tax laws dealing with property transactions from acquisition to disposition. This course provides analysis of the rules dealing with depreciation, amortization, like-kind exchanges, involuntary conversions and sale of property. It also covers important property-related timing issues and planning opportunities that can lead to significant tax savings for C Corporations and S corporations.Specific topics include:

  • Capital improvements and repair
  • Adjusted tax basis
  • Tax depreciation and amortization
  • First year expensing-IRC section 179
  • Depreciation methods
  • The latest Revenue Procedures related to the final repair regulations
    and form 3115, change in accounting method

Objectives

  • 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 classification of expenditures for tax purposes properly.
  • Recall recent changes in the tax rules related to classification of expenditures and tax result.
  • Recognize deduction recognition issues related to amortization.
  • Recall fundamental points of the MACRS system of depreciation/ cost recovery.
  • Recognize eligibility for immediate §179 expensing.

 

 

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