Qualified Property

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January 1, 1 6 min read Definitions

Bonus Depreciation Depreciation Tax Deduction Qualified Property Section 179 Business Property Tax Planning

Bonus depreciation refers to an additional deduction that allows businesses to depreciate a larger portion of the cost of qualifying property in the first year it is placed in service. This is in addition to Section 179 expensing and the standard first-year depreciation.