Depreciation, Depletion & Amortization

Depreciation
Introduction 1101
Basis for Determining Depreciation 1102
Depreciation Methods 1103
The Straight-Line Method 1104
The ‘Speedy’ Depreciation Methods 1105
How MACRS Depreciation is Computed 1106
MACRS Recovery Periods 1107
Depreciation for Property Put Into Service Before 1987 1108
The Alternative Depreciation Method (ADS) 1109
Depreciation Conventions 1110
Special Rules for Passenger Automobiles 1111
Limitation for “Listed Property” not Predominantly Used in Business 1112
Election to Deduct Capital Investments as an Expense (“Section 179 Election”) 1113
Recapture of Section 179 Deduction 1114
Miscellaneous Real Estate Provisions 1115
Depletion
Introduction 1116
Cost Depletion 1117
Percentage Depletion 1118
Timber Depletion 1119
Who is Entitled to the Depletion Deduction 1120
Amortization
Introduction 1121
Cost of Acquiring a Lease 1122
Amortization of Reforestation Expenditures 1123
15-Year Amortization Period for ‘Section 197 Intangibles’ 1124
Early Attempts at Income Taxation 101
The Present Income Tax Law 102
Introduction – General Principles – Definitions 103
Classification of Taxpayers 104
Purpose of the Income Tax Return – Withholding and Estimated Tax 105
Accounting Period -The Taxable Year 106
Accounting Methods 107
The Cash Basis 108
The Accrual Basis 109
Change in Accounting Method 110
When to File the Income Tax Return 111
Penalties 112
Installment Payment of Tax 112A
Where and How To File Manual and Electronic Filing 113
Who Must File a Return 114
Joint Return of Husband & Wife 115
Separate Return of Husband & Wife 116
Who is considered as “Married”? 117
Special Provision for Married Persons Living Apart 118
Minors 119
The Tax Return Forms and Schedules 120
Payment of the Tax 121
Section II
Introduction 122
Gross Income 123
Deductions from Gross Income 124
Adjusted Gross Income 125
Deductions from Adjusted Gross Income 126
Taxable Income 127
Tax Credits 128
The Filing Requirements for Special Taxpayers 129
Depreciation
Introduction 1101
Basis for Determining Depreciation 1102
Depreciation Methods 1103
The Straight-Line Method 1104
The ‘Speedy’ Depreciation Methods 1105
How MACRS Depreciation is Computed 1106
MACRS Recovery Periods 1107
Depreciation for Property Put Into Service Before 1987 1108
The Alternative Depreciation Method (ADS) 1109
Depreciation Conventions 1110
Special Rules for Passenger Automobiles 1111
Limitation for “Listed Property” not Predominantly Used in Business 1112
Election to Deduct Capital Investments as an Expense (“Section 179 Election”) 1113
Recapture of Section 179 Deduction 1114
Miscellaneous Real Estate Provisions 1115
Depletion
Introduction 1116
Cost Depletion 1117
Percentage Depletion 1118
Timber Depletion 1119
Who is Entitled to the Depletion Deduction 1120
Amortization
Introduction 1121
Cost of Acquiring a Lease 1122
Amortization of Reforestation Expenditures 1123
15-Year Amortization Period for ‘Section 197 Intangibles’ 1124
Early Attempts at Income Taxation 101
The Present Income Tax Law 102
Introduction – General Principles – Definitions 103
Classification of Taxpayers 104
Purpose of the Income Tax Return – Withholding and Estimated Tax 105
Accounting Period -The Taxable Year 106
Accounting Methods 107
The Cash Basis 108
The Accrual Basis 109
Change in Accounting Method 110
When to File the Income Tax Return 111
Penalties 112
Installment Payment of Tax 112A
Where and How To File Manual and Electronic Filing 113
Who Must File a Return 114
Joint Return of Husband & Wife 115
Separate Return of Husband & Wife 116
Who is considered as “Married”? 117
Special Provision for Married Persons Living Apart 118
Minors 119
The Tax Return Forms and Schedules 120
Payment of the Tax 121
Section II
Introduction 122
Gross Income 123
Deductions from Gross Income 124
Adjusted Gross Income 125
Deductions from Adjusted Gross Income 126
Taxable Income 127
Tax Credits 128
The Filing Requirements for Special Taxpayers 129