New tax law temporarily expands bonus depreciation

New tax law temporarily expands bonus depreciation

The Tax Cuts and Jobs Act (TCJA) enhances some tax breaks for businesses while reducing or eliminating others. One break it enhances — temporarily — is bonus depreciation. Most TCJA provisions go into effect for the 2018 tax year. But you might be able to benefit from...
Tax Cuts and Jobs Act: Key provisions affecting individuals

Tax Cuts and Jobs Act: Key provisions affecting individuals

On December 20, Congress completed passage of the largest federal tax reform law in more than 30 years. Commonly called the “Tax Cuts and Jobs Act” (TCJA), the new law means substantial changes for individual taxpayers. The following is a brief overview of some of the...
Reduce your 2017 tax bill by buying business assets

Reduce your 2017 tax bill by buying business assets

Two valuable depreciation-related tax breaks can potentially reduce your 2017 taxes if you acquire and place in service qualifying assets by the end of the tax year. Tax reform could enhance these breaks, so you’ll want to keep an eye on legislative developments as...