- NY Credits : 4.0
- TX Credits : 4.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 4.0
C Corporations - Tax Depreciation and Amortization
Dynamic, growing corporations often acquire new buildings and equipment and dispose of other fixed assets in the course of a year. Both the corporate accountant and outside auditors should understand the tax treatment for these acquisitions and dispositions. All aspects of corporate taxation for property is covered, including capital gains and losses, determining assets classified as Section 1231 assets, Sections 1245 and 1250 recapture provisions upon disposition of assets, Section 291 recapture provisions applicable to corporations, amortization of goodwill and other intangible assets, expansion of bonus depreciation and applicability to recapture provisions, casualty losses, and other involuntary conversions of property, including condemnations and seizures of business property. This course is most beneficial to professionals new to depreciation and amortization who may be at the staff or entry level in an organization but also for a seasoned professional with limited exposure to depreciation and amortization.
This course has been updated to address relevant provisions of the tax laws through the Tax Cuts and Jobs Act of 2017 signed by President Trump on December 22, 2017.
Upon successful completion of this course, the user should be able to:
identify property transactions, including realized and recognized gain or loss, deferred gain, depreciation recapture, IRC Section 1231, and amortization of intangibles; and
recognize special expenses and gains or losses from involuntary conversions.