IRS Approves First Year Asset Depreciation

The IRS released its final regulation that implements a 100% additional first year depreciation deduction that allows businesses to write off the cost of most depreciable business assets in the year they were placed into service for the business.

This provision is part of the tax overhaul enacted in December 2017. It includes used property put into service. 

 

Post expires at 9:13pm on Friday April 16th, 2021

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