Depreciation

Lucy Perry – CEG CORRESPONDENT - Thu November 14, 2024

Depreciation Bonus Begins Phase-Out

Contractors who correctly apply the concept of bonus depreciation have the advantage of maximizing their tax benefits while the rate is still relatively high. In 2023, the fed began a gradual phase-out of this tax provision, which allows businesses to deduct a significant portion of the cost of eligible assets in the year these assets are placed into service....

Tue December 09, 2014

House Passes Depreciation Bonus Extension

The U.S. House of Representatives passed late Wednesday, Dec. 3, the Tax Increase Prevention Act. Among the 50 expired tax breaks the bill would extend is a reinstatement of the 50 percent depreciation bonus for 2014 and an increase of the Section 179 expensing levels this year to $500,000 with a $2 million phase-out cap....

Tue August 07, 2012

House Passes Tax Reform Bills, Senate Excludes Bonus Depreciation

On Aug. 1, the House passed the Job Protection & Recession Prevention Act of 2012 (H.R. 8), 256-171. The bill provides a two-year alternative minimum tax patch (covering 2012 and 2013) and extends through Dec....

Wed February 01, 2012

How to Survive the End of Bonus Depreciation

This New Year may not be so happy for thousands of companies when they discover that they can no longer reap the benefits of 100 percent bonus depreciation in 2012. CFOs and tax directors across the country could see their tax bill double or more in the coming year....

Wed September 29, 2010

Depreciation Bonus Extended

On Sept. 27, President Barack Obama signed the Small Business Lending Fund Act (H.R. 5297) into law, creating a $30 billion fund to help small businesses expand and hire. The bill also includes eight separate tax breaks for small businesses and a boost for Small Business Administration loan programs....

Fri July 16, 2010

ARTBA Extends Depreciation Bonus for Economic Benefits

Immediate and sustainable economic benefits will come from extending the federal depreciation bonus and passing a robust, multi-year highway and transit authorization bill, an American Road & Transportation Builders Association (ARTBA) member told Congress at a hearing to review the impacts of the tax provision on small businesses....

Tracy Carbasho - Fri October 14, 2005

IRS Proposes Limits on Iron Depreciation

An IRS proposal to prohibit the depreciation of dual-purpose equipment that is available for sale or rent has flaws in its foundation and could have serious consequences, according to industry leaders who oppose the measure....

Pete Sigmund - Mon September 20, 2004

Depreciation Bonus Deadline Nears

The clock is ticking on taking advantage of the "depreciation bonus" on new equipment. The temporary special depreciation allowance permits purchasers of new equipment to write off more of the cost of equipment "up front" the first year, thereby reducing tax liability that year and improving cash flow....