LeadStory

CNBC

Changes to bonus depreciation: Here's what taxpayers need to know

CNBC · New
CNBC
CNBC
New

CNBC's Robert Frank reports on recent provisions to bonus depreciation.

BreakdownGenerated by LeadStory AI
  • Bonus depreciation now allows immediate 100% write-off of business equipment, including private jets. 13s
  • The provision applies to both new and pre-owned jets used for qualified business activities. 47s
  • The rule is retroactive to the start of the year, covering recent purchases. 55s
  • Full purchase price can be deducted from taxable income in the year of purchase. 1m 1s
  • Industry expects a spike in private jet demand due to the tax change. 1m 15s
Economy