Tax Talk Today - The Task Show For The Tax Pro

Depreciation and Amortization: It’s Only a Matter of Time

Tuesday, October 23, 2018
You have one year from airing date to use this course as credit.
2:00 PM – 3:40 PM ET
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Continuing Education

CPE Program Knowledge Level: Update
2 CPE Credit; NO prerequisites or advance preparation
CTEC Course #: 3022-CE-0126
IRS/RPO Approved Program
IRS RPO Course #: Coming Soon

Program Content

This online learning program, presented as a live webcast, will be also archived for QAS Self Study. The program will be available for viewing for 12 months after the live webcast. A moderated panel of IRS and industry experts will present the content during a live, interactive discussion, where participant questions can be submitted. Questions will be answered live on the program or posted on the Resources page.

The program, through a lively round-table discussion and real time interaction with the audience, examines allowances provided by federal tax law for depreciation and amortization. The program will focus on the cost or other basis used for the depreciation of capital or income- producing assets, and the recovery of those costs under the MACRS of depreciation. Panelists also will examine the limited election to expense, rather than capitalize the cost of certain assets. Further, the panel will examine special amortization provisions, including start-up costs, section 197 intangibles, and others.

By the end of the program, participants will have a practical understanding, through accurate, current, and effectively designed communications, of asset costs that must be capitalized and recovered through depreciation, assets that are eligible for the election to expense costs and the limits on that election, and the various expenditures that may be subject to special amortization provisions.

Program Learning Objectives

1) Identify those asset costs that must be capitalized and recovered through depreciation.

2) Identify the assets that are eligible for the special election to expense costs and the limits on that election.

3) Identify how the depreciation allowance for capital costs is determined under the current depreciation system and when depreciation may be subject to recapture.

4) Identify the various expenditures that may be subject to special amortization provisions and how those allowances are calculated.

Program Outline

Content Consultant

David F. Windish, J.D., LL.M
Content Consultant

David F. Windish, J.D., LL.M. in taxation, is a tax attorney and consultant. He has served as an instructor of tax-advantaged investments at the New York Institute of Finance; an Instructor of business law at the U.S. Merchant Marine Academy, Kings Point, N.Y.; and an adjunct professor at George Mason University, Fairfax, Va. He has also served as executive editor for Tax Analysts; managing editor for Business Strategies, published by CCH; and senior editor for the
Institute for Business Planning.

Mr. Windish is the author of Practical Guide to Real Estate Taxation, published by CCH and currently going into its sixth edition. Earlier works include Tax Advantaged Investments and Investor's Guide to Limited Partnerships, both published by the New York Institute of Finance. Through the Center for Video Education, he authored continuing education courses dealing with real estate and closely held corporations. Those courses included readings, case studies, and videotape segments.

Mr. Windish is a graduate of Rutgers University Law School and the New York University School of Law, Graduate Division. He has been heard as a guest speaker at professional meetings and seminars and on popular radio programs.