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Exploring Client Advisory Services - Depreciation

Available Until

Self-study

2.00 Credits

Member Price $79.00

Non-Member Price $109.00

Overview

Whether you are going into business for yourself or advising clients, depreciation is an important deduction on the tax return. It is often a big deduction that presents lots of opportunities for tax savings - that is, if you understand how the calculation works! In this class, we will focus on building an understanding of what makes tax depreciation so unique. We will discuss first-year elections that can be made and look at the potentially costly depreciation recapture provisions.

Highlights

  • Depreciation
  • GAAP vs Tax
  • Tax basis depreciation and useful life categories
  • Half
  • Year & Mid
  • Month Conventions
  • Sec 179 Rules
  • Bonus Depreciation & Luxury Auto Limits
  • Ordering Rules for Depreciation
  • Sec 1245 Recapture Rules

Prerequisites

Basic understanding of federal tax rules.

Designed For

Small business owners or practitioners who are new to the industry, or only have a basic understanding of federal tax rules and are looking to deepen their understanding of how depreciation is accounted for on the tax return.

Objectives

  • State how depreciation differs for GAAP and Tax Purposes.
  • Recognize different useful lives for various assets for tax purposes
  • Identify accelerated depreciation methods
  • Recognize how to calculate depreciation recapture for non
  • real property

Preparation

None

Notice

This is a self-study/on demand course offered by a 3rd party vendor. Course access information will be emailed directly to you by Peters Professional Education (PPE). The course expires one year from the purchase date.

Leader(s):

Leader Bios

David Peters, Peters Professional Education LLC

DAVID R. PETERS, CPA, CFP, MST, CPCU, CLU

David Peters is the Founder and Owner of Peters Professional Education and Peters Tax Preparation & Consulting, PC. He is also a financial advisor for Peters Financial, LLC. David has over twenty years of experience in financial services, including 3 years in the hedge fund industry and 14 years in the insurance industry. David was the first-ever Chief Financial Officer at Compare.com - a position he held for more than three years.
In addition to running his own professional education website, David is a National Instructor for the AICPA, Surgent, Kaplan, and Don Farmer Tax Seminars. He was a recipient of Surgent's Outstanding Discussion Leader award in 2019 and 2022, as well as the AICPA's Outstanding Facilitator Award in 2021 and 2023. He regularly teaches courses in accounting, finance, insurance, financial planning, and ethics throughout the United States. David holds four masters degrees, and is currently pursuing his PhD in Financial Planning. He contributes regularly to various CPA publications, including NCACPA's Interim Report, SCACPA's CPA Report, and VSCPA's Disclosures. David was also a co-author of the 2018, 2019, and 2020 Virginia CPA Ethics courses - a required course for all CPA's licensed in the Commonwealth of Virginia.

  • Website:  www.petersprofessionaleducation.com
  • YouTube: www.youtube.com/@DavidPetersFinancial
  • LinkedIn Company: https://www.linkedin.com/company/95657499/admin/analytics/updates/
  • LinkedIn Personal: https://www.linkedin.com/in/david-peters-financial/
  • Facebook: https://www.facebook.com/davidpetersfinancial
  • Twitter/X: https://x.com/DavidPFinancial
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Non-Member Price $109.00

Member Price $79.00

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