Capitalized Costs & Depreciation - Tax Staff Essentials

Overview

Depreciation, amortiz

Depreciation, amortization, and capitalization all play an essential role in accurate tax reporting.

Course Instructor: Shelley Rhoades-Catanach

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

Research and experimental expenditures

Prerequisites

None

Designed For

Public accounting staff and senior associates

Tax professionals in company finance or tax departments

Objectives

Recall the initial tax basis of business property, including those purchased and acquired in an exchange transaction.
Identify the tax basis of self-constructed assets.
Distinguish between deductible repairs and capitalized improvements.
Recall the tax treatment of expenditures for materials and supplies.
Recall the fundamentals of modified accelerated cost recovery system (MACRS) depreciation.
Recognize which assets are considered listed property.
Identify intangibles that are subject to capitalization and amortization.

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by AICPA (do_not_reply@on24event.com). Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.