Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Robert Kelly is managing director of XTS Energy LLC, and has more than three decades of ...

Bonus depreciation is gradually being phased out, impacting how businesses plan their capital expenditures. The phaseout schedule was established by the Tax Cuts and Jobs Act of 2017, which ...

The tax depreciation schedule begins as soon as you put the asset to use in your business. This applies not only to purchases but to personal property you repurpose to use in your business.

Under the previous tax law, bonus depreciation was allowed only on new ... (trailers are generally depreciated on a five-year schedule), many owner-operators fail to realize that large repairs ...

Sometimes called “additional first-year depreciation deduction,” bonus depreciation was introduced for aircraft purchases with the Job Creation and Worker Assistance Act of 2002 and renewed in ...

depreciation expense is adjusted to match the figure reported on the tax-basis depreciation schedule, with the offset posted to accumulated depreciation. Adjust the trial balance to account for ...

You or your accountant report depreciation using IRS Schedule E (Supplemental Income and Loss) Form 1040, which has a section accounting for Depreciation and Amortization. There are a few ways to ...

Treasury Secretary Scott Bessent recently announced that the return of 100 percent bonus depreciation is likely to be enacted in an upcoming tax bill, potentially creating significant ...