Selected Business Expenses 2016 - 2 CPE
After reading the materials, participants will be able to:
1. List the elements of the §162 and the limitations imposed by the not-for-profit provisions explaining how these elements and restrictions impact business deductions such as cost of goods sold, leases, taxes, loan points, and interest expense.
2. Analyze the corporate dividends received deduction, determine the cost allocation on the business use of a residence and define casualties, thefts and research costs in the context of business deductions under §162.
3. Compare and describe the various methods of amortization for business startup, organizational costs, and §179 intangibles with the cost depletion methods used on natural resources.
4. Explain depreciation rules related to ACRS and MACRS, and list the elements of the business bad debt provisions under §166.