March 2018
A taxpayer-friendly provision included in the freshly passed tax reform package allows bonus depreciation to expand to 100 percent for qualified property placed into service after Sept. 27, 2017 and before Jan. 1, 2023. Also of note: Bonus depreciation allows an instant first-year deduction on a percentage of eligible business property. Plus, bonus depreciation now also applies to any used property that is new to the taxpayer—this represents a switch from the past where only “original use” property qualified.
