Bonus Depreciation

News & Analysis as of

IRS Issues Guidance on Bonus Depreciation

The IRS issued guidance on Tuesday dealing with first-year bonus depreciation. The Tax Increase Prevention Act of 2014 amended Section 168(k)(2) by extending the one year placed-in-service date for property that...more

Tax Policy Update

The top estate tax rate under Democratic presidential candidate Bernie Sanders’ proposal to tax the wealthiest Americans and narrow income inequality in the U.S. The proposal splits the estate tax into four brackets...more

CRS Report Takes Negative View on Bonus Depreciation

The Congressional Research Service (CRS) has issued a report analyzing the economic effects of bonus depreciation. CRS has very little to say that is positive about bonus depreciation. CRS views it as neither an effective...more

CRS says Bonus Depreciation Has Little Stimulative Bang for the Buck

The Congressional Research Service published a report on July 15, 2013 on bonus depreciation and expensing allowances. The report is lukewarm at best as to the economic benefits of these tax incentives....more

What's Happening in Business Aviation? May 2013

This edition of the Burns & Levinson Business Aviation Report covers new developments in the following areas of business aviation: • Rentals from leasing aircraft may be subject to the new 3.8 percent tax on net...more

The Fiscal Cliff Deal - What does it mean for you and your business?

In the early morning hours of January 1, 2013, the Senate approved the American Taxpayer Relief Act of 2012 (the “Act”) by a vote of 89-8. Less than 24 hours later, the House of Representatives also approved the Act by a vote...more

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