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After the PATH Act was passed at the end of 2015, bonus depreciation was set to be phased out, and eventually, completely eliminated. 2019-06-06 Jan 6, 2019 - New Year's Special Offer, New Member 111% First Deposit Bonus Businesses can immediately expense more under the new law. A taxpayer may elect to expense the … Happy New Year from OSP! In a bonus episode we wrap up all the greatest videos (and more) from this year, chat a bit about what's next, and reveal a ~super secret~ new surprise at the end! This podcast was also posted in video form on YouTube, for the full episode with all the bells and whistles (and our lovely faces) head on over to Overly Sarcastic Productions. 2021-04-04 What is bonus depreciation? Depreciation allows a business to write off the cost of an asset over its useful life, or the number of years the asset will be used in the business.

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WASHINGTON — The Treasury Department and the Internal Revenue Service today released the last set of final regulations implementing the 100% additional first year depreciation deduction that allows businesses to write off the cost of most depreciable business assets in the year they are placed in service by the business. This special deduction allowance is an additional deduction you can take after you take any Section 179 deduction and before you figure regular depreciation for the year.

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