Asked By: Baby O'Keefe
Date created: Fri, Jul 30, 2021 3:48 PM
Date updated: Sat, Sep 24, 2022 9:48 PM
Top best answers to the question «50 bonus depreciation will be extended through the year»
- With 50% bonus depreciation, you could deduct 50% of the cost of an asset in the first year and the remainder over later years using regular depreciation. Bonus depreciation was scheduled to expire in 2020 after being phased down to 40% in 2018 and 30% in 2019. The Tax Cuts and Jobs Act has increased first-year bonus depreciation to 100%.