Bonus Depreciation Benefits Businesses

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SmartAsset

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Business

Business & Economics

What Is Bonus Depreciation and How Can Businesses Use It?

Summary

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86% Informative

Tax credits are important for businesses aiming to maximize profitability and sustainable growth.

Bonus depreciation is a key tax provision that has gained considerable attention.

It enables companies to immediately deduct a large portion of the cost of eligible assets, such as machinery, equipment, and certain software, in the year they are placed in service.

This accelerated depreciation schedule allows companies to reduce their taxable income in the short term.

Here's a roundup of small business banking options on the market today . Photo credit: iStock.com/MarsBars, iStock.com/FlamingoImages, iStock.com/DMP The post What Is Bonus Depreciation and How Can Businesses Use It? appeared first on SmartReads by SmartAsset ..

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Informative language

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informal

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English

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not hateful