Year end tax planning – Depreciation-related tax breaks — still going strong

Description

Abstract: Now’s a good time for contractors to consider their tax situations for the year and to take steps that may help reduce their prospective liability. The PATH Act, passed late last year, kept depreciation-related tax breaks going strong. This article discusses the current specifics of Sec. 179 expensing and bonus depreciation. A sidebar looks at the research credit, which rewards innovation.