Surgent McCoy's Comprehensive Guide To Tax Depreciation, Amortization, And Property Transactions From Acquisition To Exchange Or Disposition (TDAP)
Grand Forks Hilton Garden Inn - 11/12/2010
8 CPE Hours
$250 Member ($300 Nonmember)
Add $25 after 10/29/2010
Instructor: John Sherrick
New regulations for depreciation will be here shortly! The purpose of this comprehensive course is to provide an in-depth analysis of the complex maze of rules dealing with depreciation, amortization, and sale of property, with an emphasis on identifying special planning opportunities and pitfalls. This great reference manual is written in a very practical format and contains many examples and cases to illustrate the most important points CPAs need to be aware of.
Objectives:
Understand which assets are subject to depreciation
Complete a case related to real property depreciation
Learn about the Accelerated Cost Recovery System
Complete a case related to §expense election
Understand depreciation and MACRS cost recovery
Complete a case related to automobile depreciation
Learn about amortization expense
Complete a case related to sale or exchange of business and depreciable property
Understand installment sales and reacquisitions
Complete cases related to nontaxable transactions.
Major Topics:
Complete coverage of the tax acts of 2009 and any new legislation enacted before presentation
Detailed coverage of the greatly increased §179 expense election and how to maximize its use; when to use it; what property qualifies?
2008 proposed regulations, soon to be final, will change how we handle certain items such as repairs, betterments and new acquisitions
Correctly handling depreciation on purchases and trade-ins of business vehicles
Luxury auto depreciation limitations and phantom income inclusion amounts and tables for leased luxury autos
How to calculate depreciation in a short tax year and start-ups of businesses
Accounting for a change in use
Are we correctly handling depreciation write-offs for retail, restaurant & personal service industries?
Understanding §197 amortization issues; how to handle software and other intangible asset costs
AMT depreciation adjustments and how to avoid them
ACE depreciation and earnings and profits (E&P) depreciation rules
Sale of property and the depreciation recapture rules (§§1245, 1250, unrecognized §1250 gain for real estate, §291); goodwill write-offs need to be recaptured too!
Advanced depreciation issues, tax-deferred exchanges, personal property converted to business property, and an overview of home sale exclusion
Complete reference guide for compliance and planning issues from Pre-ACRS, ACRS, MACRS and GO Zone depreciation and amortization rules
The latest cases and rulings involving depreciation and amortization issues and how they impact clients, along with the most useful planning opportunities, and much more
Designed For: CPAs 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 clients. Level: Intermediate Developer: Surgent McCoy CPE, LLC
