Description
Learn how to apply the tax code to fixed asset purchases to maximize tax benefits.
For many businesses, the purchase of fixed assets is often one of the largest investments companies will make. The Internal Revenue Code allows businesses to claim tax deductions related to the purchases however, these deductions are not necessarily the same for all purchases. This course will help you identify the different types of property and how it is depreciated for federal income tax purposes. You will learn how to apply the tax code to fixed asset purchases to maximize tax benefits.
Date: 2023-08-01 Start Time: 1:00 PM ET End Time: 2:40 PM ET
Learning Objectives
* You will be able to discuss the different depreciation methods used for federal income tax purposes.
* You will be able to explain the differences between bonus depreciation and IRC 179 depreciation.
* You will be able to identify how to complete Form 4562.
* You will be able to describe the different asset classes used for federal tax depreciation.