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!

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