New Rules And Limitations For Depreciation and Expensing

Along with the Tax Cuts and Jobs Act of 2017 came several new rules and limitations for depreciation and expensing. The new tax law increased the amount that a taxpayer can expense in the year the asset was placed into service. The maximum allowable deduction has been increased to $1 million from $500,000. The TCJAContinue reading “New Rules And Limitations For Depreciation and Expensing”