Bonus Depreciation - 0.2 CPE

Bonus depreciation allows businesses to accelerate deductions for qualifying assets placed into service during the current tax year. Proper classification of property, election rules, and timing considerations can significantly affect both current deductions and long-term tax planning.

Learning Objective

Identify which assets may qualify for bonus depreciation and how bonus depreciation differs from Section 179 expensing.

Course Description

This nano-learning course explains the rules, qualifying property requirements, and tax planning considerations associated with bonus depreciation.

Who Should Take This Course

Tax and accounting professionals advising business owners, self-employed individuals, agricultural operations, or clients purchasing depreciable business property.

 Why This Matters

Bonus depreciation can generate substantial first-year deductions and improve business cash flow, but improper asset classification, missed elections, and compliance errors can create unintended tax consequences. Understanding how bonus depreciation interacts with Section 179, used property rules, and election procedures helps practitioners maximize available tax benefits.

Author / Instructor

Lee T. Reams, Sr., BSME EA
Lee T. Reams, Sr. is an Enrolled Agent with extensive experience in tax preparation, representation, and advanced tax planning. He is known for helping practitioners apply complex tax rules in real-world client situations.

Course Details

This course qualifies for NASBA continuing professional education credit. CountingWorks, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Understand How Bonus Depreciation Accelerates Tax Deductions

Start Bonus Depreciation and learn how qualifying property rules, election procedures, and depreciation planning affect immediate business deductions.