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Understanding Depreciation Related Acquisition Issues
IRS Program #: X9QQU-T-00971-23-O
CTEC #: 6257-CE-0149
Speaker: Jane Ryder, EA, CPA
Owning real estate provides many tax planning opportunities with many beginning at acquisition. During this session, we will focus on the many considerations surrounding depreciation including class lives, conventions, and the impact of cost segregation. Making proper elections under 179 and bonuses will have a direct effect on both the current tax return and future years.
- Identify the proper class life and depreciable methods available for different properties.
- Determine if certain assets are Qualified Improvement Property.
- Determine if assets qualify for Section 179 and/or Bonus depreciation.
- Evaluate the tax value of certain elections.
- Review the application and potential benefits of a cost segregation study.