TDP4 SURGENT'S ESSENTIAL DEPRECIATION UPDATE FOR PRACTITIONERS
Individuals, corporations, partnerships, LLCs, trusts, estates, and nonprofits all utilize two of the most often prepared tax forms -- Form 4562 -- Depreciation and Amortization, and Form 4797 -- Sales of Business Property. This course provides a quick dissection of both of these complicated forms. From new staff to experienced, tax preparers may utilize this manual for all tax returns/entities they prepare. This reference manual contains many examples and cases to illustrate the most important points CPAs need to be aware of.
Complete coverage of recent tax acts and any new legislation enacted before presentation
Will §179 depreciation rules become permanent?
Detailed coverage of §179 expense election and how to maximize its use, when to use it, and what property qualifies?
Sale of property and the depreciation recapture rules (§§1245, 1250, unrecaptured §1250 gain for real estate, §291 for corporations)
MACRS Depreciation -- finding the proper method, convention, and recovery period
What is “Listed Property” and what are the current limitations?
Amortization of start-up, organization, and other expenditures
New regulations on capitalization of tangible assets and procedures for automatic changes in accounting method associated with the new depreciation rules
AMT depreciation adjustments and how to avoid them
Examples, cases, and rulings of depreciation and amortization issues and how they impact clients, along with the useful planning opportunities
Fully understand two of the most commonly prepared tax forms
Understand assets from acquisition to disposition
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 of Knowledge: Basic/Intermediate Prerequisite: Basic knowledge of tax issues for property transactions Advanced Preparation: None Credits: 4 Field of Study: Taxes(4) CFP Credit: No