The National Association of Tax Professionals

The National Association of Tax Professionals


  • Topic(s): Business
  • Presenter(s): Randy Lawshe'
  • Session#: 915-15
  • Session Length: 100 minutes
  • Program: NATP 2015 Tax Forums & Expo
  • Date: Aug 26, 2015
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Depreciation - Details:

Many, if not all, businesses purchase assets that are used in their trade or business. The cost of these assets is recovered through depreciation, an annual allowance for the wear and tear, deterioration or obsolescence of the asset. This session helps you understand the general tax depreciation rules and how to apply those rules to your clients.

Upon completion of the session, you will be able to:
  1. Determine if the property is depreciable.
  2. Determine the proper depreciation method for the property.
  3. Identify the class life of the asset.
  4. Identify the appropriate convention to be used.
  5. Compute depreciation by hand.
  6. Explain the various rules that apply to depreciating a vehicle.