Jobs and Growth Tax Relief and Reconciliation Act of 2003

I was just reading how the Jobs and Growth Tax Relief and Reconciliation Act of 2003 increased the bonus depreciation rate from 30% to 50%, of hte adjusted basis of qualified property. Jobs and Growth Tax Relief and Reconciliation Act of 2003

I was just reading how the Jobs and Growth Tax Relief and Reconciliation Act of 2003 increased the bonus depreciation rate from 30% to 50%, of hte adjusted basis of qualified property. I thought people here might benefit from knowing a bit about it.

The bonus depreciation is determined without any pro-ration based on the date the property was placed in service. This means that if you put in service on 12/31, or whenever your tax year ends, you’re eligibel for hte full 50% bonus depreciation.