From acquisition to disposition, capitalized costs and depreciation can be challenging to understand. Developed to help you gain significant tax savings for your clients, this course offers a comprehensive and practical understanding of the IRS cost and repair regulations dealing with property transactions. Also analyzed in this course are the rules for depreciation, amortization, like-kind exchanges, involuntary conversions, business property sales, and important property-related timing issues and planning opportunities. Course materials include the impact of the Tax Cuts and Jobs Act of 2017 (TCJA) tax reform law.
Tax basis of property acquisitions. Initial basis of property acquired in an exchange transaction. Materials, supplies, repairs, and improvements. Accounting method changes. Depreciation: MACRS, Section 179, bonus. Intangible assets and amortization. Organization and start-up costs.
Public accounting staff and senior associates and tax professionals in company finance or tax departments.
Calculate the initial tax basis and adjusted tax basis of business property. Determine the tax basis of self-constructed assets. Distinguish between deductible repairs and capitalized improvements under new tax provisions. Classify expenditures properly for tax purposes. Apply recent changes in the tax rules to classification of expenditures and tax result. Recognize deduction recognition issues related to amortization. Understand the fundamentals of the MACRS system of depreciation/cost recovery. Recognize eligibility for immediate Section 179 expensing.
Dr. Rhoades-Catanach joined the accounting faculty of Villanova University in 1998, and teaches a variety of tax courses in the undergraduate, Master of Taxation, MBA and Master of Accounting and Professional Consultancy Programs. Prior to joining Villanova, she taught at Washington University in St. Louis and the Darden Graduate School at the University of Virginia. She has also served as a visiting faculty member in the MBA program at INSEAD in Fontainebleau, France. Before entering academia, Dr. Rhoades-Catanach spent seven years at Arthur Andersen as a tax professional.
Dr. Rhoades-Catanach’s research focuses on the impact of taxes on strategic decision making in such areas as tax reporting and auditing, changes in tax policy, taxpayer rights legislation, and the impact of state taxation on firm location and investment decisions. She is the co-author of the textbook Principles of Taxation: Advanced Strategies, and has published numerous articles in journals such as The Accounting Review, Research in Accounting Studies, Journal of the American Taxation Association, and Issues in Accounting Education.
Non-Member Price $269.00
Member Price $219.00