Goodbye, 100% Bonus Depreciation — Phase-Out Begins in 2023

Guest post | Using Bonus Depreciation to pay less in taxes has been a popular annual strategy for many companies, especially those who buy big-ticket items like heavy equipment and machinery. For the past few years, bonus depreciation was a robust 100% of an item’s purchase price. However, it is being phased out, beginning in 2023. For many construction companies, this may affect how and when they purchase equipment. Read on t0 learn more about bonus depreciation, how it differs from Section 179, and finally, how this phase-out will impact your company (and what you can do about it). READ FULL ARTICLE>>