TDAP
SURGENT McCOY'S COMPREHENSIVE GUIDE TO TAX DEPRECIATION, AMORTIZATION, AND PROPERTY TRANSACTIONS FROM ACQUISITION TO EXCHANGE OR DISPOSITION

The purpose of this comprehensive course is to provide an in-depth analysis of the complex maze of rules dealing with depreciation, amortization, and sale of property, with an emphasis on identifying special planning opportunities and pitfalls. This great reference manual is written in a very practical format and contains many examples and charts to illustrate the most important points CPAs need to be aware of.

Major topics include:

  • Complete coverage of The Small Business and Work Opportunity Tax Act of 2007
  • Complete reference guide for compliance and planning issues from Pre-ACRS, ACRS, MACRS and GO Zone depreciation and amortization rules
  • Detailed coverage of the greatly increased §179 expense election and how to maximize its use; when to use it; what property qualifies?
  • Are we capitalizing "repairs" that could be been written off immediately?
  • Correctly handling depreciation on purchases and trade-ins of business vehicles
  • Luxury auto depreciation limitations and phantom income inclusion amounts and tables for leased luxury autos
  • How to calculate depreciation in a short tax year and start-ups of businesses
  • Accounting for a change in use
  • Are we correctly handling depreciation write-offs for retail, restaurant & personal service industries? What are "distributive trades and services?"
  • Understanding §197 amortization issues; how to handle software and other intangible asset costs
  • AMT depreciation adjustments and how to avoid them
  • ACE depreciation and earnings and profits (E&P) depreciation rules
  • Sale of property and the depreciation recapture rules (§§1245, 1250, unrecognized §1250 gain for real estate, §291); goodwill write-offs need to be recaptured too!
  • Advanced depreciation issues, tax-deferred exchanges, personal property converted to business property
  • The latest cases and rulings involving depreciation and amortization issues and how they impact clients, along with the most useful planning opportunities, comprehensive Appendix of hard to find MACRS and ACRS depreciation tables and much more

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

Level of knowledge: Intermediate

Field of study: Taxes