Depreciation Strategies and Tax Planning
RegisterMember Price:
$105
Non-Member Price:
$125
Your Course Price: 125.00
CE Credits
3
Advanced Preparation
None
Course Level
Intermediate
Prerequisite
Knowledge of Federal Income Tax Law
Course Instructor
Tanya Baber CTRS, NTPI Fellow, EA
Date
Friday, September 20, 2024
Time
11:30am -
02:30pm PT
12:30pm - 03:30pm MT
01:30pm - 04:30pm CT
02:30pm - 05:30pm ET
12:30pm - 03:30pm MT
01:30pm - 04:30pm CT
02:30pm - 05:30pm ET
IRS CE
3
NASBA CPE
3
CTEC Credits
3
Schedule
- 11:30 AM - 1:30 PM Pacific Time
- 12:30 PM - 2:30 PM Mountain Time
- 1:30 PM - 3:30 PM Central Time
- 2:30 PM - 4:30 PM Eastern Time
During this course we will review the fundamentals of federal income tax depreciation. We will look at depreciation strategies, how to correct depreciation using Form 3115, accounting for deprecation recapture, and depreciation in a §1031 exchange. Treatment of the differences between tangible and intangible assets will be discussed.
At the completion of this course the Tax Professional will be able to:
- Identity the depreciation methods under MACRS, straight-line, declining balance, and units of production.
- Identify the type of assets, whether tangible or intangible, and the appropriate depreciation schedule based on the statutory life of a specified asset.
- Determine how to choose the proper method of deprecation based on the type of asset and the taxpayer’s desired tax position.
- Determine the useful life of an asset as determined by Statute.
- Consider the salvage value in deprecation calculations.
- Calculate the adjusted basis of an asset at the end of the tax year and the impact of the realized gain or realized loss when the asset is disposed.
