Event Description

Depreciation can be a very large and important deduction for owners of rental properties and small businesses. It can allow these taxpayers to be cash flow positive while declaring significantly less taxable income. However, this gets tricky. Are there elections we can make that may help us in later tax years? When does depreciation need to be recaptured? And when can missed depreciation deductions be made up? Using easy to follow examples and discussion, we will explore these issues and many others, so that we can get the best results possible for this unique group of clients!

Objectives

– Recognize the different accelerated depreciation methods available and when they can be used. – State how depreciation recapture differs under Sec 1245, Sec 1250, and Sec 291. – Identify different planning techniques available utilizing depreciation.