Extension means businesses can take bonus depreciation on their 2015 returns – but should they?
Extension means businesses can take bonus depreciation on their 2015 returns – but should they? Bonus depreciation allows businesses to recover the costs of depreciable property more quickly by claiming additional first-year depreciation for qualified assets. The Protecting Americans from Tax Hikes Act of 2015 (the PATH Act) extended 50% bonus depreciation through 2017. The break had expired December 31, 2014, for most assets. So the PATH Act may give … Read more