Depreciation and Capitalization Guide: Optimizing Business Assets

Overview

This presentation highlights the latest legislative changes affecting depreciation and capitalization rules, including inflation increases and Section 179 and 168(k) deductions. Planning and potential pitfalls will also be presented. 

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.

Highlights

• Recent tax legislation, rules and developments related to capitalization and depreciation
• Capitalization of tangible property, including materials and supplies, building and improvements
• Small taxpayer safe harbor
• Section 179, including 2020 inflation adjustment
• Section 168(k) 100% bonus deduction
• Late bonus depreciation election
• Qualified improvement property

Prerequisites

Basic working knowledge of tax depreciation

Designed For

CPAs in public practice and members in industry seeking to better understand the ever-changing depreciation rules

Objectives

• Identify the latest legislation and regulations regarding depreciation and capitalizing business assets
• Identify planning opportunities and potential pitfalls

Preparation

None