ENHANCED DEPRECIATION DEDUCTIONS-UPDATE

    ENHANCED DEPRECIATION DEDUCTIONS-UPDATE

Business may immediately elect to deduct up to $500,000 of the cost of qualifying asset acquisitions and is indexed to inflation

These assets apply to purchases of:

1)    Computer software
2)    Qualified leasehold improvements
3)    Retail improvements
4)    Restaurant improvements

These assets do not apply to purchases of:

1)    Vehicles
2)    Buildings-residential and commercial
3)    Land

After applying this large depreciation deduction, if there is any undepreciated balance, bonus depreciation rules are then applied at:

1)    50% for property placed in service in 2015, 2016 and 2017.
2)    40% for 2018 and 30% for 2019