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Bonus Depreciation

2018 Updates to Section 179 Tax Reform

Under section 179 of The Tax Cuts and Jobs Act, the Bonus Depreciation percentage increased from 50% to 100% for qualified property acquired and placed in service after Sept. 27, 2017, and before January 1, 2023.

The deduction limit increased to $1,000,000 and the limit on equipment purchases has increased to $2.5 million. Eligible property was also expanded to include used qualified equipment purchased and active since the same date.



Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment purchased or financed during the tax year. Contact your tax adviser to determine if you qualify.Visit www.section179.org for more details, qualifying property information, and a Section 179 calculator. Restrictions may apply. Foley, Inc. does not provide tax advice and marketing material should not be considered tax or legal advice.