Essential Depreciation and Expensing Update

Gain a thorough understanding of two of the most commonly prepared tax forms (Form 4562 - Depreciation and Amortization and Form 4797 - Sales of Business Property). Understand assets from acquisition to disposition. Discuss cases highlighting some of the practical issues tax preparers face.
Highlights

• Now that Section 179 depreciation rules are permanent, when will they change?
• Detailed coverage of Section 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
• MACRS depreciation: 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 methods 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