A Change Is Coming: As Bonus Depreciation Prepares To Phase Down, Can Section 179 Expensing Step Up? | TaxConnections Bonus Depreciation Prepares To Phase Down, Can Section 179 Expensing Step Up?
As they say, the only constant is change. Many readers are aware that bonus depreciation rates are set to begin phasing down in 2023. Beginning 1/1/2023, bonus will shift from 100% to 80%, and the rate will continue to decline by 20% annually through 2026. In 2023, 80% of an asset’s cost may be written Bonus Depreciation Prepares To Phase Down, Can Section 179 Expensing Step Up?
