The largest overhaul of the tax code occurred in 2017 with the Tax Cuts and Jobs Act. One of the significant changes that was brought about by the reform was the new bonus depreciation rules.  These rules have increased bonus depreciation on assets used in business from 50% to 100%.

In this video, you will learn about what qualifies property for 100% bonus depreciation (0:40) and the issue with qualified improvement property (1:46).

Although these rules may seem straightforward, understanding and applying the final regulations and newly proposed regulations to your individual business situation can be complex so it’s always a wise idea to consult with your Untracht Early advisor before taking any action.