Capitalized Costs and Depreciation 
Key Topics
- Capital improvements and repair
- Adjusted Tax Basis
- Tax depreciation and amortization
- First year expensing-IRC section 179
- Depreciation methods
- Form 3115, change in accounting method
Learning 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 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 MACRS system of depreciation/cost recovery.
- Recognize eligibility for immediate ยง179 expensing.
This webcast is part of the Tax Staff Essentials program.
Gain a comprehensive and practical understanding of the various complex tax laws dealing with property transactions from acquisition to disposition. This webcast provides analysis of the rules dealing with depreciation, amortization, like-kind exchanges, involuntary conversions, and sale of property. You will explore important property-related timing issues and planning opportunities that can lead to significant tax savings for C Corporations and S Corporations.
Webcast materials will include the impact of the Tax Cuts and Jobs Act of 2017 (TCJA) tax reform law.
- Tax: Technical: Tax accounting: Capitalization & depreciation, Foundational
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