Revenue Procedure 2017-33: Bonus Depreciation

Joe Nagel Website PictureIn this document, the IRS provides guidance on recent changes to Section 179 expense and bonus depreciation. Importantly, the 179 expense is increased for inflation to $510,000 and bonus depreciation is 50% for 2017 but decreases to 40% in 2018 and 30% in 2019. The latter change obviously provides a tax advantage for businesses to place qualifying prorperty into service in 2017 rather than 2018.  For more information regarding this document or any other tax concern, please call us at 404-255-7400 or info@hoffmanestatelaw.com.

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