2015 Update for Section 179 + Bonus Depreciation

  • Creator
    Topic
  • December 31, 2015 at 8:16 pm #199278
    Anonymous
    Inactive

    https://www.section179.org/

    Section 179 Key Points:

    – Expense max at $500K

    – Reduced dollar for dollar by excess of purchases over $2 million

    – Not available if purchases exceed $2.5 million.

    *indexed to inflation in $10,000 increments in future years*

    Bonus Depreciation:

    – 50% for 2015-2017

    – 40% for 2018 and 2019

Viewing 3 replies - 1 through 3 (of 3 total)
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  • January 1, 2016 at 3:52 am #753311
    jeff
    Keymaster

    It doesn't impact the CPA Exam until 6 months later…just so you know.

    Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

    January 1, 2016 at 6:08 pm #753312
    rosecpa
    Participant

    Jeff, so then what exactly are we being tested on in Q1 2016 (regarding 179)?

    January 1, 2016 at 8:12 pm #753313
    Anonymous
    Inactive

    Thanks Jeff for pointing that out. I'm a little confused though because I was informed in Q1 and Q2 for 2016, we'd be tested for the 2015 tax year. The link https://www.section179.org/section_179_deduction.html explains the changes for the 2015 year that companies would use, no?

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