Learning Objectives

After reading the materials, participants will be able to:

1. Cite the elements of Statute 162 and the limitations imposed by the not-for-profit provisions noting how these elements and restrictions impact business deductions such as cost of goods sold, leases, taxes, loan points, and interest expense.

2. Determine the corporate dividends received deduction, identify the cost allocation on the business use of a residence and specify casualties, thefts, and research costs in the context of business deductions under Statute 162.

3. Recognize methods of amortization for business startup, organizational costs, and Statute 179 intangibles with the cost depletion methods used on natural resources.

4. Identify depreciation rules related to ACRS and MACRS, and cite the elements of the business bad debt provisions under Statute 166.

Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants : Any CPA looking to maintain or enhance their professional competence
Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
Click here to view cancellation and record retention policies