Bookmark and Share

Bonus Tax Depreciation Extended Through 2019

January 04, 2016

Note: Bonus Tax Depreciation is offered by the federal government. Lester Buildings is in no way connected to tax programs. Please consult with your tax advisor for more information.

On 12-18-2016 Bonus Deduction was extended. Businesses may depreciate 50% of the cost of equipment, including buildings, purchased and put in service in 2015 (retro active), 2016 and 2017. The bonus depreciation will phase down to 40% in 2018 and 30% in 2019.

IRS Section 179 Deduction

Understanding the Section 179 Deduction

What buildings qualify?
- farm buildings
- ag storage buildings
- machine shops
- barns
- hay storage