Capitalized Costs and Depreciation - Tax Staff Essentials

This course provides background in depreciation methods as well as some tax planning opportunities that surround fixed assets.

• Public accounting staff and senior associate
• Tax professionals in company finance or tax departments

• 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 results.
• Recognize deduction recognition issues related to amortization.
• Recognize the fundamentals of the MACRS system of depreciation/cost recovery.
• Recognize eligibility for immediate Section 179 expensing.

• 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