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Capitalized Costs and Depreciation: Key Issues and Answers (FVP7)

  • 11/14/2018
  • 12:30 PM - 4:00 PM
  • Fargo Holiday Inn 701-282-2700


For member pricing, please log in using the email you have on file with the Society. Fees increase by $15 when registering less than 14 days before the class.

Gain a comprehensive and practical understanding of the various complex tax laws dealing with property transactions from acquisition to disposition. This course provides analysis of the rules dealing with depreciation, amortization, like-kind exchanges, involuntary conversions and sale of property. It also covers important property-related timing issues and planning opportunities that can lead to significant tax savings for C Corporations and S Corporations.

When you complete this course you will be able to:

  • Calculate the initial tax basis and adjusted tax basis of business property.
  • Recall how to determine the tax basis of self-constructed assets.
  • Distinguish between deductible repairs and capitalized improvements under new tax provisions.
  • Indicate the proper classification of expenditures for tax purposes.
  • Recall recent changes in the tax rules related to classification of expenditures.
  • Recognize deduction recognition issues related to amortization.
  • Recall fundamental points of the MACRS system of depreciation/cost recovery.
  • Recognize eligibility for immediate §179 expensing.

Topics Discussed:

  • Capital improvements and repair
  • Adjusted tax basis
  • Tax depreciation and amortization
  • First year expensing-IRC section 179
  • Depreciation methods
  • Form 3115, change in accounting method

Intended Audience: Public accounting staff and senior associates, tax professionals in company finance or tax departments

Level: Basic
Instructor: Patrick Kelley
Developer: AICPA
Area of Study: 4 Taxes (Technical)

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3325 South Washington Street
Suite B2
Grand Forks, ND 58201

Contact Us: 

 (701) 775-7111
or (877) 637-2727

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