Practical federal tax rules for deciding deductions, calculating depreciation, and reporting business assets under current 2026 law
5 sections · 8 lessons
Define when a cost is currently deductible or must be capitalized, then classify property, set basis, and establish when depreciation starts for federal tax purposes.
2 lessonsApply GDS and ADS rules to compute first-year depreciation and test when the mid-quarter convention changes the method for assets placed in service.
2 lessonsEvaluate bonus eligibility and Section 179 limits, then coordinate the expensing choices that drive the largest federal deduction under 2026 rules.
2 lessonsApply substantiation, business-use, and vehicle limitation rules to assets that face special Section 280F restrictions and recapture risk.
1 lessonPrepare Form 4562 entries and compute depreciation recapture and remaining gain or loss when business property is disposed of.
1 lessonThis course begins with the question every preparer faces: whether a business cost can be deducted now or must be capitalized and recovered over time. It then builds the core skills needed to classify assets, compute MACRS and bonus depreciation, apply Section 179 limits, handle listed property and vehicle rules, and report dispositions and recapture correctly. By the end, learners can work through common federal depreciation and expensing decisions with confidence and produce the needed tax reporting under current 2026 rules.
The course covers tangible property regulations, the de minimis safe harbor, MACRS recovery periods, depreciable basis, placed-in-service rules, GDS and ADS, mid-quarter testing, bonus depreciation, Section 179 limits and carryforward, listed property substantiation, vehicle limits, dispositions, depreciation recapture, and Form 4562 reporting.
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Average pass rate · Freeman et al., PNAS 2014
What the science says
Students in lecture-only classes are 1.5× more likely to fail.
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You work through itAI does it for you
Skill retention over time · with vs. without practice
What the science says
Offloading thinking to AI erodes the very skills you’re trying to build.
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Retrieval practiceRe-reading
Long-term recall · retrieval vs. re-reading
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How Fenzo does it
Lessons weave in quizzes and recall prompts, so it sticks.