Lecture Content
Depreciation calculations demand the application of numerous rules including MACRS, limits on autos, listed property and asset life. This lecture teaches students the methods used to calculate MACRS depreciation and application of various limits and rules affecting depreciation calculations.
Topics Covered
* Definition of tangible and intangible property types
* The difference between depreciation and amortization
* What property can be depreciated
* Depreciation systems
* MACRS (Modified Accelerated Cost Recovery System)
* ADS (Alternative Depreciation System)
* MACRS class asset lives and recovery periods
* Single purpose agricultural and horticultural structures
* Computer software and other intangible property
* Depreciation conventions
* Depreciation methods
* Straightline and double declining balance methods
* MACRS tables
* Depreciation schedule how to prepare
* Form 4562 filing requirements
* Bonus depreciation
* Section 179 deduction
* What property can and cannot be expensed
* Qualified real property
* Listed property rules and limits on deductions
* Limits on automobiles, trucks, vans and SUVs
* Leased vehicle inclusion amounts
* Standard mileage allowance depreciation component
* Inclusion amounts
* Classification of property
* Amortization rules relating to intangible assets
* Startup costs
* Preparation of Form 4562 Depreciation and Amortization linebyline instructions
* Deduction and capitalization of expenses related to tangible property
Terms of Use or Enrollment
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