Principles Of Depreciation

//Principles Of Depreciation
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Principles Of Depreciation

The practice of depreciating assets has been evolving since the 1830s when industries, railroads particularly, began using more expensive equipment in their businesses. Since that time businesses and eventually the IRS have modified and improved this accounting practice to provide fair and uniform methods of depreciation to all businesses, large and small.

This course is designed for the tax preparer that has experience in completing returns that include a Schedule C as it is written in clear-cut language, provides a solid base of information and builds on that base with more detailed information.

It is important for any tax professional who prepares Schedule C returns to be well educated in the practice of depreciating business assets. This course provides that training.

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Learning Objectives:

  • A history of and differences between depreciation and amortization
  • How to amortize Section 197 intangibles
  • Understand class life
  • How to determine basis
  • Various types of basis
  • Special elections and allowances currently in place
  • Modified Accelerated Cost Recovery System
  • Recapturing depreciation when an asset is disposed
  • Section 179 depreciation rules
  • Listed Property
  • Forms needed to report to the IRS
  • Manually calculating depreciation

Publication Date: September 2018

IRS Course #: A360U-T-00097-18-S

Program Level: Intermediate

Prerequisites/Advanced Preparation: Participants should be familiar with IRS Schedule C and have a working knowledge of the tax code.

Delivery Method: QAS Self-Study

License Term: 90 Days

CPE/CE Credits: IRS 3 CE Federal Tax. One 50- minute period equals one CPE/CE Credit Hour.

Field of Study: Tax

Passing Grade: Participants who answer a minimum of 70% correct on the final exam will receive a Certificate of Completion.

Record Retention: As an IRS-approved provider of continuing education The Tax University will report successful completion of this course to the IRS.  You can access and view all completed continuing education credits through your online PTIN account.

Complaint Resolution Policy: Please contact our customer service department at 1-434-227-4480.

Refund Policy: 30-day money back guarantee.  For refund assistance, please contact our customer service department at 1-434-227-4480.

Price: $44

The Tax University Offers Substantial Discounts When You Purchase Multiple Courses! All Discounts Appear At The Bottom Of The Order Page When More Than One Course Is Selected.

Click Here To Order the CE Course Principles Of Depreciation

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