Objective
- Understand which assets are subject to depreciation
- Answer advanced §179 and automobile depreciation questions
- Fully understand depreciation and MACRS cost recovery
- Understand installment sales and reacquisitions
- Complete cases related to depreciation and sales of assets
Highlights
- Comprehensive coverage of the Inflation Reduction Act of 2022
- Final regulations -- bonus depreciation and §1031 exchanges
- Technical correction Rev. Proc. 2019-13 -- use it or stand to lose second-year depreciation deductions for luxury automobiles
- What are the components for real estate depreciation?
- A new SUV or sedan, a study of depreciation alternatives
- Permanency in §179 depreciation rules? How to maximize its use; when to use it; what property qualifies?
- Sale of property and the depreciation recapture rules (§§1245, 1250, unrecaptured §1250 gain for real estate, §291 for corporations)
- How to depreciate like-kind exchange property
- May §121 and §1031 apply to the same transfer of property?
- Reacquired installment sale property -- calculating potential gain and new basis
- Understanding §197 amortization issues; how to handle intangible asset costs
- Depreciation issues, tax-deferred exchanges, personal property converted to business property, & overview of home sale exclusion
- Guide for compliance and planning issues
- Cases and rulings of depreciation and amortization issues and how they impact clients, along with the useful planning opportunities
Designed For
Accounting and Financial Professionals in industry and public accounting who need a thorough grasp of this important area of tax law and who want to maximize the possible tax savings for their clientsPrerequisite
Basic knowledge of tax issues for property transactionsAdvanced Preparation
None