Bonus depreciation has increased from 50% to 100% for property placed in service between September 27, 2017 and December 31, 2022. For 2023, bonus depreciation will be 80%, unless Congress makes changes to the law. Bonus depreciation also now includes used property, as long as it's the taxpayer's first use. Bonus depreciation has always been a good choice for business that cannot use Section 179 expensing due to the income limitation.
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In Business Since 1991
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