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Tax Extender Bill: Reverting Bonus Depreciation Back to 100%
Key Takeaways: Bonus depreciation allows businesses to expense capital asset purchases immediately, impacting cash flow and investment opportunities positively. The Tax Cuts and Jobs Act initially enabled 100% bonus depreciation in the first year, set to decrease to 80% in 2023. A bipartisan "tax extender bill" may restore the 100% bonus depreciation rate, providing significant benefits to business owners. Provisions for business interest expense deductions empower companies to invest in growth through capital and team expansion. A hopeful outlook is expressed toward the Senate's anticipated…
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