Browse by Category

Browse

Unpacking the Challenges of State Tax Depreciation

Venue

This is a virtual event, accessible online and over the phone. Access instructions will be provided after registration.

Description

As tax practitioners, we sometimes wish states would all follow the federal treatment when it comes to calculating taxable income. But alas, states have a choice to conform or not conform to the Internal Revenue Code, and the result is added complexity. In the area of fixed assets, state non-conformity isn’t as simple as “bonus/no-bonus”, and practitioners need to be aware of the various (and sometimes downright strange) treatment of fixed assets depreciation across the 50 states.

Join Bloomberg Tax & Accounting for an in-depth dive into the treatment of fixed assets depreciation at the state level.

Educational Objectives:

  • Summarize which areas of fixed assets depreciation are treated differently for states, including:
    • Section 168(k) Bonus Depreciation
    • Section 179 Bonus Depreciation
    • Disposal Treatment
    • Like Kind Exchanges
  • Understand the intricate calculations and tracking challenges of certain states
  • Understand the different depreciation methods used by certain states
  • Understand how states have reacted to the Tax Cuts and Jobs Act (TCJA)
  • Identify best practices and processes for dealing with federal/state tax differences for fixed assets depreciation

Audience: This program is designed for c-suite executives, and directors and managers within corporate tax and accounting departments.

Presenters

Ryan Sheehan
  • Senior Product Manager
  • Bloomberg Tax & Accounting

Ryan Sheehan is a Senior Product Manager for Bloomberg Tax & Accounting. He is responsible for Bloomberg Tax’s Corporate Tax products, including Advantage Fixed Assets, Corporate Tax Analyzer, and Advantage State Tax Analyzer. Prior to Bloomberg Tax, Ryan was a CPA at KPMG’s Washington D.C. Metro office in the Business Tax Services practice.  

Ellen Barker
  • Subject Matter Expert
  • Bloomberg Tax & Accounting

Ellen Barker is a Subject Matter Expert for Bloomberg Tax & Accounting. She is responsible for researching and designing tax and accounting requirements for Bloomberg Tax’s Advantage Fixed Assets. Prior to Bloomberg Tax, Ellen was a Senior Tax Associate in Dixon Hughes Goodman LLP’s Metro DC market.

Emily Chau
  • Subject Matter Expert
  • Bloomberg Tax & Accounting

Emily Chau is a Subject Matter Expert for Bloomberg Tax & Accounting. Emily’s primary responsibilities include researching and designing tax and accounting features for Bloomberg Tax’s Advantage Fixed Assets product. Prior to Bloomberg Tax, Emily was a CPA in Dixon Hughes Goodman LLP’s Metro DC market specializing in government contracting and multistate taxation.

Continuing Education

Credits:
1.2 CPE, 1.0 General COA
Practice Areas:
Field of Study: Taxes
Level:
Any
Production Date:
08/08/2019