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Ask A CPA - Expiring Tax Provisions

2013 Tax Provisions Due To Expire As Of November 2013 - Bonus Depreciation

For 2013, businesses can deduct up to half the cost of new equipment through a special bonus depreciation deduction, with the rest of the cost depreciated over the useful life of the equipment. Bonus depreciation won't be available for the year 2014, except for long production period property and noncommercial aircraft.

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