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Bonus Depreciation
Deduct a Large of the Purchase Price of Eligible Business Assets stimulus to encourage businesses to buy equipment and invest in themselves, which could help stimulate economic growth.

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Bonus Depreciation Strategy

Bonus Depreciation is a tax incentive that allows a business to immediately deduct a large percentage of the purchase price of eligible business assets rather than writing them off over the "useful life" of that asset. This incentive is usually a stimulus to encourage businesses to buy equipment and invest in themselves, which could stimulate economic growth.

Under the U.S. tax code, most tangible depreciable assets with a recovery period of 20 years or less are eligible for bonus depreciation. This strategy includes machinery, equipment, computers, appliances, furniture, and certain types of real property, such as qualified improvement property.

The Tax Cuts and Jobs Act (TCJA) of 2017 temporarily increased the bonus depreciation percentage from 50% to 100% for property placed in service after September 27, 2017, and before January 1, 2023. However, it's worth mentioning that tax laws and regulations can change frequently and vary by jurisdiction, so it's always a good idea to consult with a tax professional or CPA to get the most current and applicable advice for your specific situation.
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* All strategies on this site are intended for informational purposes. It is highly recommended that all combinations of this strategy are implemented by a licensed and experienced professional.