100% bonus depreciation is scheduled to drop to 80% bonus depreciation starting in 2023. Certain long-term assets have an extra year (such as orchard plantings). Bonus will drop by 20% each year ...

Bonus depreciation was one of the significant provisions in the TCJA ... One option for many taxpayers is to look closely at Section 179 expensing. Sec. 179 allows taxpayers to deduct the cost of ...

U OF M EXTENSION SERVICE With tax season approaching, many farm managers have been asking what tax law changes might impact them as they meet with income tax professionals. Listed below is a quick ...

There are a number changes that have resulted from the passage of federal tax laws for years 2009 and 2010. These changes can dramatically affect farm families, their farm business and the ...

The IRS thanks you for posting that, too. Bonus depreciation is essentially Section 179’s quieter cousin. It acts somewhat the same, but has a few different rules. Most businesses use bonus ...

Section 179 gets a $30,000 increase, and keep your eye on bonus depreciation, too. In what’s sure to be welcome news for small and midsize companies, the Section 179 tax deduction has been ...

In the past, Section 179 has gone hand-in-hand with bonus depreciation as valuable tax incentives. This year, changes have been made to Section 179 and bonus depreciation. With the changes ...