Minnesota Society of Certified Public Accountants

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Bloomington MN 55431
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24SS-0420: Surgent's Comprehensive Guide to Tax Depreciation, Expensing and Property Transactions (Self-Study)

Valid for one year from purchase date
Self-study - Downloadable PDF
8 CPE (8 technical) | 8 IRS CE

If the organization paying for the purchase is exempt from sales tax, call us at 952-831-2707 to complete your purchase.

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With a greater-than-ever Section 179 deduction boosted by additional first-year depreciation and pandemic-related business-friendly provisions, these are unprecedented times for businesses to make major asset investments.

From the most up-to-date depreciation regulations to inflation adjustments and technical corrections, this course provides guidance for navigating the complex maze of rules dealing with depreciation, amortization, and sales of property. The manual contains a wide range of case types and examples covering common and uncommon situations to illustrate the most important points for CPAs to understand.

Major subjects

Final regulations -- bonus depreciation and Section 1031 exchanges
Technical correction in Rev. Proc. 2019-13 -- use it or stand to lose second-year depreciation deductions for luxury automobiles
Components for real estate depreciation
Depreciation alternatives
Rules for Section 179 depreciation
Sales of property and the depreciation recapture rules (Section 1245, Section 1250, unrecaptured Section 1250 gain for real estate, Section 291 for corporations)
Amortization of research and experimentation costs
Depreciating like-kind exchange property
Applying Section 121 and Section 1031 to the same transfer of property
Reacquired installment sale property -- calculating potential gain and new basis
Understanding Section 197 amortization issues and handling intangible asset costs
Depreciation issues, tax-deferred exchanges, conversions of personal property into business property, and home sale exclusions
Compliance and planning issues
Cases and rulings of depreciation and amortization issues and how they impact clients, plus useful planning opportunities

Learning objective(s)

Understand the assets subject to depreciation
Answer advanced Section 179 and automobile depreciation questions
Comprehend depreciation and MACRS cost recovery
Navigate installment sales and reacquisitions
Complete cases related to depreciation and sales of assets

Who should take this program?

CPAs in industry and public accounting who need a thorough grasp of this important area of tax law and want to maximize possible tax savings for their clients

Fees

Our records indicate you are a nonmember. If you register, you will be charged $159.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.