Capitalized Costs & Depreciation – Tax Staff Essentials (5.5 hours)

December 10, 2024 6:00am - 11:35am PST

(Check-In 5:30am PST )

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5.5 Credits

Member Price $261.00

Non-Member Price $309.00

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

Designed For

Public accounting staff and senior associate

Tax professionals in company finance or tax departments

Objectives

Recall the initial tax basis and adjusted tax basis of business property.
Identify the tax basis of self-constructed assets.
Distinguish between deductible repairs and capitalized improvements.
Recall changes in the tax rules to the classification of expenditures such as materials, supplies, repairs, and improvements.
Recall the fundamentals of modified accelerated cost recovery system (MACRS) depreciation.
Recognize which assets are considered listed property.
Recognize the types of purchased intangible costs that must be capitalized.

Notice

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