- 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. This course covers all aspects of corporate taxation for property, 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 involuntary conversions of property. This intermediate level course is most appropriate for the professional with detailed knowledge in depreciation and amortization or the professional seeking to expand his or her knowledge base and who may be at a mid-level position within an organization with operational or supervisory responsibilities, or both. The final exam includes many scenario based questions with calculations.
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 and apply the rules for gains or losses from involuntary conversions.