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Capitalized Costs & Depreciation - Tax Staff Essentials

Thursday, Jan. 7   11:00am - 4:30pm

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Online

5.50 Credits

Member Price $189.00

Non-Member Price $235.00

Overview

How do I treat a property transaction?
By understanding the rules for capitalized costs and depreciation, you can answer this question and help your clients achieve meaningful tax savings.

You’ll also learn about the rules for:

  • Tax basis
  • Depreciation
  • Amortization
  • Like-kind exchanges
  • Involuntary conversions
  • Business property sales
  • Property-related timing issues
  • Planning opportunities

    Covering H.R. 1's vast effects on capitalized costs and depreciation
    Course materials apply the developments brought on by H.R. 1, commonly referred to as OBBBA, including:
  • Changes in the treatment of Section 174 research and experimental expenditures
  • Section 179 deduction enhancements
  • Bonus depreciation updates
  • Addition of a temporary 100% deduction for qualified production property

    Part of Tax Staff Essentials Level 1
    This self-study online course is part of Tax Staff Essentials Level 1, a comprehensive learning program that provides tax staff with the technical training required to support their teams.

    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.
    • Recall the tax treatment of expenditures for materials and supplies.
    • Distinguish between deductible and capitalized expenditures related to repairs and improvements.
    • 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.

    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 startup costs
  • Research and experimental expenditures
  • H.R. 1, commonly referred to as OBBBA

    Designed For

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

    Prerequisites

    None

    Notice

    You will receive an email from the AICPA with instructions to access the webinar.

  • Leader(s):

    Leader Bios

    Shelley Rhoades-Catanach, AICPA

    Shelley Rhoades-Catanach Ph.D., CPA “Dr. Shelley Rhoades-Catanach is a member of the accounting faculty of Villanova University School of Business, where she teaches a variety of tax and accounting courses in Villanova’s undergraduate, MBA, Master of Accounting and Professional Consultancy, and Master of Taxation programs. Prior to joining Villanova, she taught at Washington University in St. Louis. She has also served as a visiting faculty member at Darden Graduate School at the University of Virginia and at INSEAD in Fontainebleau, France. Shelley obtained her undergraduate degree in accounting from the University of Nebraska and received her Ph.D. in accounting from the University of Texas at Austin. Shelley’s research applies game-theoretic modeling techniques to examine the impact of taxes on strategic decision making in such areas as tax reporting and auditing, changes in tax policy, taxpayer rights legislation, and the impact of state taxation on firm location and investment decisions. She has published articles in journals such as The Accounting Review, Research in Accounting Studies, Journal of the American Taxation Association, Issues in Accounting Education, and Journal of Accounting Education. She is also a co-author of two textbooks: Principles of Taxation for Business and Investment Planning and Advanced Strategies in Taxation. Prior to entering academia, Shelley spent seven years at Arthur Andersen as a tax professional. She is a CPA and a member of the American Institute of CPAs, the American Accounting Association, and the American Taxation Association. She is past president of the American Taxation Association, the tax section of the American Accounting Association, and a recipient of the ATA’s Ray Sommerfeld Outstanding Tax Educator award.”

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    Non-Member Price $235.00

    Member Price $189.00