Expiring Tax Provisions
2013 Tax Provisions due to expire as of November 2013 - Bonus depreciation
For 2013, businesses can deduct up to half the cost of new equipment through a special bonus depreciation deduction, with the rest of the cost depreciated over the useful life of the equipment. Bonus depreciation won't be available for the year 2014, except for long production period property and noncommercial aircraft.
Need Professional Help?
If you need help with "Expiring Tax Provisions" or have other tax questions, we can help you find a local licensed tax preparer for a free, no-obligation consultation.