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Capturing the Benefits of Bonus Depreciation and the Section 179 Deduction
Posted by Bob Smith on Tue, Dec 13, 2016 @ 12:40 PM

The Protecting Americans from Tax Hikes Act of 2015 (PATH Act) created several benefits for tax planning, not the least of which was taking the uncertainty out of common tax deductions.

Several benefits that help offset the cost of improvements to tangible property had been set to expire in 2014, but the tax extension legislation renewed and in some cases enhanced the tax-saving opportunities. Among the provisions included in the PATH Act were bonus depreciation and the Section 179 expensing election. Both apply to similar types of projects and situations, but each provision has its nuances. As businesses can only take one or the other for the same asset, careful consideration is critical to maximizing their benefits.

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Topics: Bob Smith, Bonus Depreciation, Section 179, PATH Act, Protecting Americans from Tax Hikes Act of 2015

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