
TCJA Allows Bonus Depreciation on Purchase of Leased Vehicle
Before the Tax Cuts and Jobs Act (TCJA), your purchase of the vehicle you were leasing did not qualify for either Section 179 expensing or bonus depreciation. But times have changed.
(980) 221-1834
Before the Tax Cuts and Jobs Act (TCJA), your purchase of the vehicle you were leasing did not qualify for either Section 179 expensing or bonus depreciation. But times have changed.
Dear GP CPA Client: We are wrapping up the Company’s tax returns and would like to make you aware of an option that the Company is eligible to make based on the new tax laws passed in 2017.