• IRS Releases Fact Sheet on Depreciation
  • April 25, 2018
  • The IRS recently released a factsheet that provides an overview of the changes to depreciation and expensing under the new tax law. The fact sheet addresses immediate expensing for section 179 property, first year bonus depreciation, limitations on luxury automobiles and personal use property, treatment of certain farm property, the applicable recovery period for real property, and the use of the alternative depreciation system for farming businesses.

    Read more: New rules and limitations for depreciation and expensing under the Tax Cuts and Jobs Act