This presentation highlights the latest legislative changes affecting depreciation and capitalization rules, including 2020 inflation increases and Section 179 and Section 168(k) deductions. In addition, planning and potential pitfalls will be presented.
CPAs and members in industry seeking a better understand the ever changing depreciation rules.
After attending this presentation you will be able to...
- Identify the latest legislation and regulations regarding depreciation and capitalizing business assets.
The major topics that will be covered in this course include:
- Recent tax legislation and developments related to depreciation and capitalization
- Section 179 qualified real property and deduction
- Section 168(k) bonus deduction
- Depreciation of automobiles, full size trucks and SUVs
- Luxury auto limits
- ADS depreciation for electing farm and real estate business
- Rev. Proc. 2019-13 Safe Harbor
- Rev. Proc. 2019-8
Basic working knowledge of tax depreciation and expensing assets.