Earlier this month, the IRS proposed regulations regarding the additional first-year depreciation deduction that was added to the Code by the Tax Cuts and Jobs Act (“TCJA”).[i] The proposed rules ...

The IRS published proposed regulations this month that provide guidance regarding the additional first-year depreciation deduction under Section 168(k) of the Tax Code. The IRS building in Washington, ...

The Treasury Department and the IRS have issued guidance that provides a safe harbor method for determining depreciation deductions for passenger automobiles that qualify for the 100-percent ...

Bonus depreciation is a tax incentive allowing immediate, accelerated depreciation for eligible aircraft purchases, currently at 60% for assets acquired by December 31, 2024, as part of a scheduled ...

The Internal Revenue Service considers any auto with an unloaded gross weight of 6,000 pounds or less a luxury vehicle. It gives you two ways to depreciate a luxury auto used for business purposes.

So, you’re a real estate investor accustomed to tax mitigation strategies and you are starting to think about your next big project. With that comes so many streams of thought — location, timing, ...

Editor’s note: This article appears in the January 2009 issue of The Tax Adviser, the AICPA’s monthly journal of tax planning, trends and techniques. The IRS has issued Rev. Proc. 2008-65, which ...

The IRS issued a revenue procedure providing a safe-harbor method to determine depreciation deductions for passenger automobiles that qualify for the 100% additional first-year depreciation deduction ...