Tax Incentive

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January 1, 1 6 min read Definitions

Additional First-Year Depreciation Section 179 Bonus Depreciation Tax Incentive Business Property Depreciation Allowance Federal Income Tax

Additional first-year depreciation allows for extra depreciation allowances in the acquisition year of specific business properties, as mandated by federal income tax laws. This incentivizes the acquisition of certain types of business property. It is periodically updated by Congress, with varying limits, rates, and qualifying property.

January 1, 1 6 min read Definitions

Investment Tax Credit

Investment Tax Credit Income Tax Liability Tax Incentive Tax Deduction Business Investments Tax Reform Act of 1986

An Investment Tax Credit (ITC) is a tax incentive that enables businesses to deduct a certain percentage of investment costs from their income tax liability.