Racehorses, Yachts, Private Jets—The Wealthy Are Getting a Nice Tax Break, Thanks to Trump

The One Big Beautiful Bill Act may be the reason behind a record number of big, beautiful racehorses sold at auction earlier ...
Institute on Taxation and Economic Policy

Sen. Elizabeth Warren: Letter to Joint Committee on Taxation on Bonus Depreciation

On July 4, 2025, President Trump signed Republicans’ One Big Beautiful Bill Act (OBBBA) into law. In addition to ...
Think Advisor

Bonus Depreciation

The final draft tax legislation modifies the existing bonus depreciation rules which, as of today, only allow businesses a 40% depreciation deduction in the first year that qualifying assets are ...
Forbes

100% Bonus Depreciation Is Back: Here’s What That Means For Your Business

Karla Dennis, EA, MST, is CFO/CEO of the award-winning tax accounting firm KDA Inc.—specializing in tax planning. Buried in the July 4 tax overhaul, formally titled the One Big Beautiful Bill Act, was ...
IndustryWeek

A New, 'Quiet' Tax Provision Benefits Manufacturers

Qualified Production Property (QPP) allows companies that build their own plants to immediately deduct expenses.
The Hill

Hidden ‘bonus’ write-offs hide the true cost of tax breaks

With major provisions of President Trump’s Tax Cuts and Jobs Act of 2017 set to expire this year, there’s increased attention to how much it would cost to extend key portions of the act and how the ...
Accounting Today

Depreciation planning can mitigate tax uncertainty

CPAs and their clients have been dealing with uncertainty surrounding Section 174 legislation for the last few years. Under the Tax Cuts and Jobs Act of 2017, research expenditures under Section 174 ...