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Tax Depreciation and Amortization Best Practices

Gain a better understanding of the every-day application of tax depreciation concepts.

Most enterprises rely on some form of capital assets in conducting their ongoing trade or business. Since these assets are typically designed to have useful lives exceeding the current year, the costs are capitalized and deducted over time. To avoid missing valuable tax deductions, those responsible for calculating depreciation and amortization need to understand the concepts of tax depreciation and what opportunities exist in the tax law to maximize up-front depreciation deductions.

Runtime: 97 minutes
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Why Lorman?

Over 31 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

Understanding Tax Depreciation Methods

  • Modified Accelerated Cost Recovery System (MACRS)
  • Determining Depreciable Lives
  • Deprecation Conventions
  • Examples of Property and Their Respective Recovery Period

IRC Section 179

  • Applications
  • Limitations
  • Phase Outs

Automobiles and Other Listed Property

  • Recognizing Listed Property
  • Special Rules for Passenger Automobiles
  • Depreciation Limitations on Listed Property
  • Depreciating Trade-Ins

Bonus Depreciation

  • Qualifying Property
  • Calculating Bonus Depreciation
  • Effect on Other Depreciation Calculations
  • Tax Elections

Qualifying Leasehold Improvement Property

  • Qualifying Property
  • Special Rules

Cost Segregation Studies

  • The Concept of Cost Segregation
  • Qualifying Property
  • Tax Planning Issues

Amortization

  • Software
  • Section 197 Intangibles
  • Purchased Intangibles
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More Program Information

Why Lorman?

Over 31 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 Webinar

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

Audio & Reference Manual

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

MP3 Download

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

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More Program Information

Why Lorman?

Over 31 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

William F. Becker, Jr., CPA, M.B.A.

William F. Becker, Jr., CPA, M.B.A.

Cherry Bekaert LLP

  • Tax partner at Cherry Bekaert LLP with more than 20 years of experience
  • Assists clients at all stages of the business life cycle, providing a full range of tax and business consulting services, including income tax and business planning, cost segregation and depreciation modeling, succession planning, merger and transaction services and multi-state tax matters including sales and property tax planning
  • Routinely represents clients in federal and state tax matters and is an experienced expert witness in tax and business matters
  • Licensed as a CPA in the state of Florida, and is a member of the American Institute of Certified Public Accountants (AICPA), the Florida Institute of Certified Public Accountants (FICPA), the Urban Land Institute (ULI), and NAIOP
  • M.B.A. and B.A. degrees, University of South Florida
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Why Lorman?

Over 31 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.

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Product ID: 400490
Published 2017, 2018
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