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The 100% bonus depreciation amount remains in effect from September 27, 2017 until January 1, 2023. After that, first-year bonus depreciation goes down as follows: 80% for property placed in service after December 31, 2022 and before January 1, 2024.


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Guidance Issued on 100% Bonus Depreciation Rules
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On December 22, 2017, the President signed the Tax Reform legislation.
The bill click here takes effect in 2018 and makes significant changes that impact most β€” if not all β€” https://promocode-money-games.website/100/100-deposit-bonus.html />Increased deductions for bonus depreciation and Section 179 expense are just two of these changes impacting business taxpayers, and these largely positive changes https://promocode-money-games.website/100/mobile-casino-100-free-no-deposit.html two potential tax savings presents for businesses.
Bonus Depreciation Under the previous tax rules, the bonus depreciation deduction was limited to 50% of eligible new property.
The Reform extends where can i cash my money order at modifies bonus depreciation to allow businesses to immediately deduct 100% of eligible property placed in-service after September 27, where can i cash my money order at, and before January 1, 2023.
And, for certain property with longer production periods, the 100% bonus depreciation is extended through December 31, 2023.
Bonus depreciation continues to be available for qualifying property, which is generally property with a depreciable recovery period of 20 years or less.
Plus, eligible property is expanded to include used property.
The phase-out occurs when total Section 179 property placed in-service during a tax year exceeds the threshold amount.
At this point, the deduction is reduced dollar-for-dollar by the excess amount.
Both the deduction where can i cash my money order at phase-out limit will be increased for inflation beginning in 2019.
CRInsight: The increase in the Section 179 expense deduction may be of lesser significance as the bonus depreciation deduction has been increased to 100% through December 31, 2022 β€” and now also includes used property.
Tie Your Bonus Depreciation and Section 179 Expense Gift Up with a Bow Most of us 100 bonus depreciation dates receiving presents, so be sure your business takes advantage of the potential tax gifts provided by the changes to bonus depreciation and Section 179 expensing.
If you have questions regarding how to take advantage of these provisions or others within the Tax Reform that may impact your business, then please.
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Bonus Depreciation for Qualified Improvement Property. The TCJA allows 100% first-year bonus depreciation for eligible property placed in service between September 28, 2017, and December 31, 2022. That means you can write off the entire cost of eligible property in the first year it’s placed in service.


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IRS issues proposed regs. on 100% bonus depreciation - Journal of Accountancy
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Guidance Issued on 100% Bonus Depreciation Rules
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The IRS issued proposed regulations providing guidance on Sec.
The TCJA extended and modified bonus depreciation, allowing businesses to immediately deduct 100% of the cost of eligible property in the year it is placed in service, through 2022.
The amount of allowable bonus depreciation is then phased down over four years: 80% will be allowed for property placed in service in 2023, 60% in 2024, 40% in 2025, and 20% in 2026.
For certain property with long production periods, the above dates will be pushed out a year.
The TCJA also removed the rule that made bonus depreciation available only for new property and extended the period in which certain other property including plants and films, television, and live theatrical productions will qualify source 100% depreciation.
These new rules generally apply retroactively to property acquired or placed in service after Sept.
The proposed regulations describe and clarify the statutory requirements that must be met for depreciable property to qualify for the additional first-year depreciation deduction provided by Sec.
Further, the proposed regulations instruct taxpayers how to determine the additional first-year depreciation deduction and the amount of depreciation otherwise allowable for this property.
Because the TCJA substantially amended Sec.
It also invited comments on the proposed rules until Oct.
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The revenue procedure spells out the requirements property must meet to be eligible for 100% bonus depreciation, including the acquisition date, the placed-in-service date, and the date when original use of the property commences with the taxpayer. Special requirements apply to self-constructed property.


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IRS issues proposed regs. on 100% bonus depreciation - Journal of Accountancy
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Guidance Issued on 100% Bonus Depreciation Rules
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When you buy personal property for your business, such as a car or computer, that lasts for more than one year, you are required to deduct the cost a little at a time over several years.
This process is called depreciation.
Depending on the property involved, it can take anywhere from three to 39 years to fully depreciate the cost of business property.
In an ongoing effort to help small businesses, small business owners have been allowed to claim first-year bonus depreciation for qualifying personal property used for business purposes.
Using bonus depreciation, you can deduct a certain percentage of the cost of an asset in the first year it was purchased, and the remaining cost can be deducted over several years https://promocode-money-games.website/100/100-wolves-slot-machine-free.html regular depreciation or Section 179 expensing.
For tax years 2015 through 2017, first-year bonus depreciation was set at 50%.
It was scheduled to go down to 40% in 2018 and 30% in 2019, and then not be available in 2020 and beyond.
The Tax Cuts and Jobs Act, enacted at the end of 2018, increases first-year bonus depreciation to 100%.
It goes into effect for any long-term assets placed in service after September 27, 2017.
The 100% bonus depreciation amount remains in effect from September 27, 2017 until January 1, 2023.
But if you want to get the largest depreciation deduction you can, you will want to take advantage of this option whenever possible.
Under prior law, you could only use bonus depreciation for new property.
The Tax Cuts and Jobs Act has changed that rule and now you can use bonus depreciation for purchases of new 100 dollar slot machine youtube used property starting in 2018.
In addition, if the asset is listed property, it must be used more than 50% of the time for business to qualify for bonus depreciation.
Listed property consists of automobiles and certain other personal property.
Computers were listed property under prior law but starting in tax year 2018, they are no longer classified as listed property so there is no over 50% use requirement.
Often, the same asset will qualify for Section 179 expensing and bonus depreciation.
In this event, you decide what method to use or you may choose to combine depreciation methods.
If you decide to claim Section 179 expensing and bonus depreciation for the same asset, you must use Section 179 first, then bonus depreciation, and then regular depreciation if needed.
Placed in Service Rule You can take full advantage of Section 179 and bonus depreciation if you purchased qualifying property for your business any time during the tax year.
Unlike with regular depreciation, you need not reduce your deduction if you purchased property late in the year.
However, Section 179 and bonus and regular depreciation are only available for business property you placed in service during the tax year.
Example: Tom, a real estate agent, purchased a where can i cash my money order at to take photos of properties for sale.
He had the device ready for use in his office on November 1, 2018.
However, he had no properties to photograph until 2019.
On the other hand, if you purchased property but do not place it in service that year, you can take no Section 179, or bonus or regular depreciation deduction for it.
Example: Tom also purchased a new computer for his business.
He more info and paid for the computer online on December 28, 2018.
However, the computer was not delivered until January 2, 2019.
Tom may not deduct any part of the cost of the computer on his 2018 return.
The information provided where can i cash my money order at this site is not legal advice, does not constitute a lawyer referral service, and no attorney-client or confidential relationship is or will be formed by use of the site.
The attorney listings on this site are paid attorney advertising.
In some states, the information on this website may be considered a lawyer referral service.
Please reference the Terms of Use and the Supplemental Terms for specific information related to your state.
Your use of this website constitutes acceptance of the, and.

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The amount of allowable bonus depreciation is then phased down over four years: 80% will be allowed for property placed in service in 2023, 60% in 2024, 40% in 2025, and 20% in 2026. (For certain property with long production periods, the above dates will be pushed out a year.)


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The new law increases the bonus depreciation percentage from 50 percent to 100 percent for qualified property acquired and placed in service after Sept. 27, 2017, and before Jan. 1, 2023. The bonus depreciation percentage for qualified property that a taxpayer acquired before Sept. 28, 2017, and placed in service before Jan. 1, 2018, remains at 50 percent.


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β€’ 100% bonus depreciation is not available for Section 734 adjustments β€’ 100% bonus depreciation is not available for remedial allocations under Section 704(c) β€’ The proposed regulations confirm that 100% bonus depreciation is available for acquisitions using Sections 338(h)(10) and 336(e)


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Under the new Bonus Depreciation schedule, businesses may immediately write-off 100 percent of the cost of depreciable property (e.g., manufacturing and distribution equipment, computers, and computer software) acquired in the same calendar year, providing the equipment is used in the United States.


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Under the new Bonus Depreciation schedule, businesses may immediately write-off 100 percent of the cost of depreciable property (e.g., manufacturing and distribution equipment, computers, and computer software) acquired in the same calendar year, providing the equipment is used in the United States.


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Is this for one year 2011 or will it continue for more than the single year?
If a farmer is constructing a new building and 100 bonus depreciation dates construction commenced after September 8, 2010 and is finished before January 1, 2012, then the total cost is allowed to be 100% depreciated during 2011.
If the building construction commenced before September 9, 2010 and was finished in 2011, then only 50% bonus depreciation is allowed unless you can segregate out some components that can be 100% bonus depreciated this year.
If the building is not finished by the end of 2011, but is completed in 2012, then the farmer can take 50% bonus depreciation on the building and depreciate the remaining 50% over its taxable life.
Currently, it is 100% bonus depreciation in 2011, 50% bonus depreciation in 2012 and zero 100 bonus depreciation dates depreciation in 2013, but these rules can change at any time.
Paul is a principal with CliftonLarsonAllen in Yakima, Washington, as well as a regular speaker at national conferences and contributor at.
Raised on a farm in central Washington, he has been immersed in the ag industry his entire life, including the last 30 years professionally.
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Investment advisory services are offered through CliftonLarsonAllen Wealth Advisors, LLC, an SEC-registered investment advisor.
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Acquisition Requirements and Placed in Service Dates. Note, as of the date of this writing, bonus depreciation is not available for property placed in service after December 31, 2014 (December 31, 2015 for long production period property and specified aircraft).


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Bonus Depreciation. President Obama signed into the law the β€œTax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010,” H.R. 4853, that will provide 100 percent bonus depreciation for investments placed in service after September 8, 2010 and through December 31, 2011.


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The Dates for 100% Bonus Depreciation | CLA (CliftonLarsonAllen)
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The Dates for 100% Bonus Depreciation | CLA (CliftonLarsonAllen)
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Some are essential to make our site work; others help us improve the user experience.
By using the site, you consent to the placement of these cookies.
Read our to learn more.
The IRS issued guidance on how taxpayers can deduct 100% of the cost of qualified business property placed in service in 2011 under rules enacted last year.
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 P.
In addition, the act extended the placed-in-service date for property to qualify for a 50% additional first-year depreciation deduction to include property placed in service before January 1, 2013 or before January 1, 2014, in the case of certain property.
The revenue procedure spells out the requirements property must meet to be eligible for 100% bonus depreciation, including casino 100 free no acquisition date, the placed-in-service date, and the date when original use of the property commences with the taxpayer.
Special requirements apply to self-constructed property.
The 100 bonus depreciation dates procedure also specifies how the 100% bonus depreciation rules check this out with other Code sections, including various tax credits, grants in lieu of energy credits under Section 1603 of the American Recovery and Reinvestment Act of 2009 P.
Taxpayers can elect not to deduct additional first-year depreciation, and the revenue procedure outlines the time and manner for making that election.
Some taxpayers with tax years beginning in 2009 and ending in 2010 that filed their 2009 federal tax returns before the enactment of the Small Business Jobs Act P.
The revenue procedure provides procedures for claiming or not claiming the 50% bonus depreciation for this property.
TECHNOLOGY Among CPA tax preparers, tax return preparation software generates often extensive and 100 bonus depreciation dates discussion.
To get through the rigors of tax season, they depend on their tax preparation software.
DEDUCTIONS The package includes final regulations, guidance on how to calculate W-2 wages, a safe-harbor rule for rental real estate businesses, and new proposed rules on the treatment of previously suspended losses.
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Remember, in order to qualify for 100 percent bonus depreciation, taxpayers must have acquired the property after Sept. 27, 2017. Under the effective date of section 168(k), taxpayers cannot treat property as acquired after the date a taxpayer enters into a written binding contract for the property.


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Acquisition Requirements and Placed in Service Dates. Note, as of the date of this writing, bonus depreciation is not available for property placed in service after December 31, 2014 (December 31, 2015 for long production period property and specified aircraft).


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When you buy personal property for your business, such as a car or computer, that lasts for more than one year, you are required to deduct the cost a little at a time over several years.
This process 100 bonus depreciation dates called depreciation.
Depending on the property involved, it can take anywhere from three to 39 years to fully depreciate the cost of business property.
In an ongoing effort to help small businesses, small business owners have been allowed to claim first-year bonus depreciation for qualifying personal property used for business purposes.
Using bonus depreciation, you can deduct a certain percentage of the cost of an asset in the first year it was purchased, and the remaining cost 100 bonus depreciation dates be deducted 100 bonus depreciation dates several years using regular depreciation or Section 179 expensing.
For tax years 2015 through 2017, first-year bonus depreciation was set at 50%.
It was scheduled to go down to 40% in 2018 and 30% in 2019, and then not be available in 2020 and beyond.
The Tax Cuts and Jobs Act, enacted at the end of 2018, increases first-year bonus depreciation to 100%.
It goes into effect for any long-term assets placed in service after September 27, 2017.
The 100% bonus depreciation amount remains in effect from September 27, 2017 until January 1, 2023.
But if you want to get the largest depreciation deduction you can, you will want to take advantage of this option whenever possible.
Under prior law, you could only use bonus depreciation for new property.
The Tax Cuts and Jobs Where can i cash my money order at has changed that rule and where can i cash my money order at you can use bonus depreciation for purchases of new or used property starting in 2018.
In addition, if the asset is listed property, it must be used more than 50% of the time for business to qualify for bonus depreciation.
Listed property consists of automobiles and certain other personal property.
Computers were listed property under prior law but starting in tax year 2018, they are no longer classified as listed property so there is no visit web page 50% use requirement.
Often, the same asset will qualify for Section 179 expensing and bonus depreciation.
In this event, you decide what method to use or you may choose to combine depreciation methods.
If you decide to claim Section 179 expensing and bonus depreciation for the same asset, you must use Section 179 first, then bonus depreciation, and then regular depreciation if needed.
Placed in Service Rule You can take full advantage of Section 179 and bonus depreciation if you purchased qualifying property for your business any time during the tax year.
Unlike with regular depreciation, you need not reduce your deduction if you purchased property late in the year.
However, Section 179 and bonus and regular depreciation are only available for business property you placed in service during the tax year.
Example: Tom, a real estate agent, purchased a camera to take photos of properties for 100 bonus depreciation dates />He had the device ready for use in his office on November 1, 2018.
However, he had no properties to photograph until 2019.
On the other hand, if you purchased property but do not place it in service that year, you can take 100 bonus depreciation dates Section 179, or bonus or regular depreciation deduction for it.
Example: Tom also purchased a new computer for his business.
He purchased and paid for the computer online on December 28, 2018.
However, the computer was not delivered until January 2, 2019.
just click for source may not deduct any part of the cost of the computer on his 2018 return.
He has to wait until the next year to take this deduction.
The information provided on this site is not legal advice, does not constitute a lawyer referral service, and no attorney-client or confidential relationship is or will be formed by use of the site.
The attorney listings on this site are paid attorney advertising.
In some states, the information on this website may be considered a lawyer referral service.
Please reference the Terms of Use and the Supplemental Terms for specific information related to your state.
Your use of this website constitutes acceptance of the, and.

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In that case, the IRS notes that you can still make the election to forego 100% bonus depreciation within the next few days. This is done by attaching a statement to the return. For details, see.


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The Dates for 100% Bonus Depreciation | CLA (CliftonLarsonAllen)
Valid for casinos
Guidance Issued on 100% Bonus Depreciation Rules
Visits
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Comments
When you buy personal property for your business, such as a car or computer, that lasts for more than one year, you are required to deduct the cost a little at a time over several years.
This process is called depreciation.
Depending on the property involved, it can take anywhere from three to 39 years to fully depreciate the cost of business property.
In an ongoing effort to help 100 bonus depreciation dates businesses, small business owners have been allowed to claim first-year bonus depreciation for qualifying personal property used for business purposes.
Using bonus depreciation, you can deduct a certain percentage of the cost of an asset in the first year it was purchased, and the remaining cost can be deducted over several years using regular depreciation or Section 179 expensing.
For tax years 2015 through 2017, first-year bonus depreciation was set at 50%.
It was scheduled to go down to 40% in 2018 and 30% in 2019, and then not be available in 2020 and beyond.
The Tax Cuts and Jobs Act, enacted at the end of 2018, increases read article bonus depreciation to 100%.
It goes into effect for where can i cash my money order at long-term assets placed in service after September 27, 2017.
The 100% bonus depreciation amount remains in effect from September 27, 2017 until January 1, 2023.
But if you want to get the largest depreciation deduction you can, you will want to take advantage of this option whenever possible.
Under prior law, you could only use bonus depreciation where can i cash my money order at new property.
The Tax Cuts and Jobs Act has changed that rule and now you can use bonus depreciation for purchases of new or used property starting in 2018.
In addition, if the asset is listed property, it must be used more than 50% of the time for business to qualify for bonus depreciation.
Listed property consists of automobiles and certain other personal property.
Computers were listed property under prior law but starting in tax year 2018, they are no longer classified as listed property so there is no over 50% use requirement.
Often, the same asset will qualify for Section 179 expensing and bonus depreciation.
In this event, you decide what method to use or you may choose to combine depreciation methods.
If you decide to claim Section 179 expensing and bonus depreciation for the same asset, you must use Section 179 first, then bonus depreciation, and then regular depreciation if needed.
Placed in Service Rule You can take full advantage of Section 179 and bonus depreciation if you purchased qualifying property for your business any time during the tax year.
https://promocode-money-games.website/100/bet365-100-percent-bonus.html with regular depreciation, you need not reduce your deduction if you purchased property late in the year.
However, Section 179 and bonus and regular depreciation are only available for business property you placed in service during the tax year.
Example: Tom, a real estate agent, purchased a camera to take photos of properties source sale.
He had the device ready for use in his office on November 1, 2018.
However, he had no properties to photograph until 2019.
On the other hand, if you purchased property but do not place it in service that year, you can take no Section where can i cash my money order at, or bonus or regular depreciation deduction for it.
Example: Tom also purchased a new computer for his business.
He purchased and paid for the computer online on December 28, 2018.
However, the computer was not delivered until January 2, 2019.
Tom may not deduct any part of the cost of the computer on his 2018 return.
He has to wait until the next year to take this deduction.
The information provided on this site is not legal advice, does not constitute a lawyer referral service, and no attorney-client or confidential relationship is or will be formed by use of the site.
The attorney listings on this site are paid attorney advertising.
In some states, the information on this website may be considered a lawyer referral service.
Please reference the Terms of Use and the Supplemental Terms for specific information related to your state.
Your use of this website constitutes acceptance of the, and.

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β€’ 100% bonus depreciation is not available for Section 734 adjustments β€’ 100% bonus depreciation is not available for remedial allocations under Section 704(c) β€’ The proposed regulations confirm that 100% bonus depreciation is available for acquisitions using Sections 338(h)(10) and 336(e)


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Bonus Depreciation Extended Through 2026 Under the Tax Cuts and Jobs Act | Nolo
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Tax Reform Bonus Depreciation and Section 179 Expense
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Bonus Depreciation for Qualified Improvement Property. The TCJA allows 100% first-year bonus depreciation for eligible property placed in service between September 28, 2017, and December 31, 2022. That means you can write off the entire cost of eligible property in the first year it’s placed in service.


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Bonus Depreciation Definition
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Retroactive Depreciation Changes Encourage Closing Deals Before Year End
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Is this for one year 2011 or will it continue for more than the single year?
If a farmer is constructing a new building and the construction commenced after September 8, 2010 and is finished before January 1, 2012, then the total cost is allowed to be 100% depreciated during 2011.
If the building construction commenced before September 9, 2010 and was finished in 2011, then only 50% bonus depreciation is allowed unless you can segregate out where can i cash my money order at components that can be apologise free 100 dollar slot machine online Amazingly! bonus depreciated this year.
If the building is not finished by the end of 2011, but is completed in 2012, then the farmer can take 50% bonus depreciation on the building and depreciate the remaining 50% over its taxable life.
Currently, it is 100% bonus depreciation in 2011, 50% bonus depreciation in 2012 and zero bonus depreciation in 2013, but these rules can change article source any time.
Paul is a principal with CliftonLarsonAllen in Yakima, Washington, as well as a regular speaker at national conferences and contributor at.
Raised on a farm in central Washington, he has been immersed in the ag industry his entire life, including the last 30 years professionally.
In fact, Paul drives a combine each 100 bonus depreciation dates for his cousins and that is what he considers a vacation.
Find out about major agribusiness events and how to comply with new laws that affect your business.
Investment advisory services are offered through CliftonLarsonAllen Wealth Advisors, LLC, an SEC-registered investment advisor.
Nexia International Limited does not deliver services in its own name or otherwise.
Nexia International Limited does not accept any responsibility for the commission of any act, or omission to act by, or the liabilities of, any of its members.
Each member firm within the Nexia International network is a separate legal entity.

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These three types of property therefore have a 15 year life, and if acquired and placed in service after September 27, 2017 and before January 1, 2018 will be eligible for 100% bonus depreciation. Under the TCJA, qualified improvement property was ascribed a 39 year life and was not eligible for bonus depreciation.


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The Dates for 100% Bonus Depreciation | CLA (CliftonLarsonAllen)
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Bonus Depreciation Extended Through 2026 Under the Tax Cuts and Jobs Act | Nolo
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How Real Estate Investors can Boost First Year Depreciation