Depreciation & Amortization

Maximize Your Tax Strategy: Depreciation & Amortization

In this training, you will learn about depreciation and amortization and the process of allocating the cost of fixed assets over their estimated useful lives. This course will cover the different types of depreciation. Depreciation is an income tax deduction that allows a taxpayer to recover the cost or other basis of certain property. It is an annual allowance for wear and tear, deterioration, or obsolescence of the property. The depreciation period is also called the recovery period because the taxpayer is recovering the cost of their property. When claiming depreciation, remember it is "what is allowed or allowable". You will also learn that the depreciable cost is the original cost less its estimated residual (salvage) value and the different depreciation methods and conventions. We review the depreciation types, the life, and depreciation methods. In addition, I do a deep-dive on Section 179 and Bonus Depreciation. If you have been leaving money on the table and providing true "strategy" with your clients, then this training is for you!

In this course, you will learn to:

• Understand the fundamental concepts of depreciation and amortization.
• Master the process of allocating the cost of fixed assets over their useful lives.
• Learn about the different types of depreciation.
• Define depreciation as an income tax deduction for recovering property cost.
• Identify the depreciation period, also known as the recovery period.
• Calculate the depreciable cost
• Explore various depreciation methods and conventions.
• Review specific depreciation types and their associated lives.

What’s Included in Your Package:

• Full Video Course

 Course Materials

• Depreciation & Amortization Schedules
  
• Publications
• Standard Operating Procedures For Tax Software(s)
• Workbook for Class - Use For Class
• Mock Exercises - Use For Class

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