Business Depreciation Under the TCJA, Part 2: Section 179 Expensing

LFL Veritas Blog: Depreciation Under TCJA Part 2 Business Depreciation Under the TCJA, Part 2: Section 179 Expensing The rules and limitations for two methods used by businesses for expensing fixed assets – bonus depreciation and Section 179 expensing – changed significantly when the Tax Cuts and Jobs Act (TCJA) of 2017 was passed. In […]

How to Lower Your Tax Bill by Using Section 179

Businesses have long used Section 179 of the IRS tax code to deduct the costs of equipment and software that they need to succeed. The federal government created this incentive to encourage companies to make the investments in their own growth. Rather than requiring property to be capitalized and depreciated, which means the deduction is […]