Cassady SchillerBlog E-Updates Manufacturing NewslettersTax Relief, Unemployment Insurance Reauthorization & Jobs Creation Act of 2010 Extends Bonus Depreciation

Tax Relief, Unemployment Insurance Reauthorization & Jobs Creation Act of 2010 Extends Bonus Depreciation

Nov

8

November 8 , 2010 | Posted by Mike Hawkins |

Tax Relief, Unemployment Insurance Reauthorization & Jobs Creation Act of 2010 Extends Bonus Depreciation

Bonus depreciation is a tool Congress has utilized off and on for the past 10 years as a way to spur short-term investment. The 2010 Tax Relief/Jobs Creation Act extended the bonus depreciation provision which had expired on January 1, 2011. This move provides taxpayers with the ability to take a 100% first-year depreciation deduction on qualified assets placed in service through the end of 2011.  It also provides taxpayers with the ability to take a 50% first-year depreciation deduction on qualified assets placed in service January 1, 2012 through December 31, 2012.