- NY Credits : 13.0
- TX Credits : 13.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 13.0
Gain a thorough, practical understanding of ACRS, MACRS, and ADS. Follow examples calculating alternative minimum tax depreciation and luxury automobile caps on annual cost recovery. It will also cover additional first-year depreciation. This course is most appropriate for the professional with detailed knowledge in depreciation for tax who may be at a mid-level position within an organization with operational or supervisory responsibilities, or both.
Upon successful completion of this course, the user should be able to:
calculate the depreciation for tangibles and the amortization for intangibles;
recognize MACRS recovery period and modifying conventions;
identify allowable depreciation methods and the IRS optional tables;
determine short tax years and IRC Section 179 and determine if additional first-year depreciation is available;
identify adjustments to basis, luxury autos, and listed property; and
recognize alternative depreciation system and alternative minimum tax.