2017 Tax summary

The IRS issued final regulations on the additional first year depreciation deduction (i.e., bonus depreciation) available under Code Sec. The extension of the additional first - year depreciation deduction is generally effective for property placed in service after December 3 2008. Tax reform expands first - year depreciation deductions for company cars.

In addition , the depreciation allowances for passenger vehicles were . Bonus Depreciation Information Federal Income Tax Treatment. Sep 20- FOR ADDITIONAL FIRST - YEAR. DEPRECIATION DEDUCTION.

On September 1 201 the IRS and Treasury finalized first - year bonus.