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IRS Form 4562: Depreciation and Amortization

Learn how to apply the tax code to fixed asset purchases to maximize tax benefits.

For many businesses, the purchase of fixed assets is often one of the largest investments companies will make. The Internal Revenue Code allows businesses to claim tax deductions related to the purchases; however, these deductions are not necessarily the same for all purchases. This course will help you identify the different types of property and how it is depreciated for federal income tax purposes. You will learn how to apply the tax code to fixed asset purchases to maximize tax benefits.

Learning Objectives

  • You will be able to differentiate between MACRS, ACRS and straight line
  • You will be able to differentiate the ADS recovery periods longer than GDS
  • You will be able to differentiate between GDS Depreciable Lives
  • You will be able to identify Section 179 and bonus depreciation characteristics

107 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Methods/Lives and Conventions

  • MACRS, ACRS, and Straight-Line
  • Half-Year, Mid-Quarter, Mid-Month
  • Examples of Property and Their Respective Recovery Periods

Section 179

  • Limitations
  • Thresholds
  • Qualifying Property

Listed Property/Luxury Autos/Leased Autos

  • Limitations
  • Qualifying Property

Bonus Depreciation

  • Rates
  • Thresholds
  • Qualifying Property

Amortization

  • Common Intangible Assets and Treatment
  • Section 197 Intangibles
  • Purchased Intangibles
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on August 1, 2023.

Call 1-866-352-9540 for further credit information.

  • AIPB 2.0
     
  • This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • Enrolled Agents 2.0
     
  • This program qualifies for 2.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
     
  • CPE/NASBA - QAS Self Study 2.8 including Taxes 2.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 2.8 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
     

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Bill Becker, Jr., CPA

Bill Becker, Jr., CPA

Hancock Askew & Co, LLP

Bill Becker Jr., CPA, M.B.A.

  • Tax principal, Hancock, Askew & Co., LLP
  • Certified public accountant with over twenty-five years of experience providing tax and business consulting, including income tax planning, depreciation modeling, merger and transaction services, and tax reporting
  • CPE instructor and frequent speaker on topics affecting the real estate industry
  • Member of the American Institute of Certified Public Accountants (AICPA) and the Florida Institute of Certified Public Accountants
  • M.B.A. degree and B.A. degree, University of South Florida
  • Can be contacted at [email protected] or 813-254-2727
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • OnDemand Courses
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Additional benefits include:

  • State Specific Credit Tracker
  • All-Access Pass Course Concierge

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 410676
Published 2023
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