The IRS has issued new guidance on bonus depreciation, which was made permanent under the One Big Beautiful Bill Act. Here’s ...

Notice 2026-11 from the IRS provides guidance on the permanent 100% additional first-year depreciation deduction provided by ...

The Department of the Treasury and the Internal Revenue Service are providing taxpayers with guidance on the permanent 100 percent additional first year depreciation deduction for eligible depreciable ...

Earlier this month, the IRS proposed regulations regarding the additional first-year depreciation deduction that was added to the Code by the Tax Cuts and Jobs Act (“TCJA”).[i] The proposed rules ...

The Internal Revenue Service and the Treasury Department released guidance Wednesday enabling taxpayers to make a late election, or revoke an earlier election, for the bonus depreciation tax break for ...

The Internal Revenue Service considers any auto with an unloaded gross weight of 6,000 pounds or less a luxury vehicle. It gives you two ways to depreciate a luxury auto used for business purposes.

Assets like equipment, vehicles and furniture lose value as they age. Parts wear out and pieces break, eventually requiring repair or replacement. Depreciation helps companies account for the ...