The One Big Beautiful Bill Act (the “Act”) includes significant amendments to bonus depreciation under Section 168(k). The Act permanently ...

The Tax Cuts and Jobs Act of 2017 expanded bonus depreciation to additional assets and allowed for 100% bonus depreciation. While the qualification for bonus eligibility does not change, the amount ...

Learn how rental property depreciation works and how to calculate it. It's an important factor that plays a role in maximizing deductions on your taxes.

As the new year begins, many people are beginning to think about possible tax planning strategies to use in 2022 that could reduce their tax bill next year. While a plethora of strategies are ...

Knowing the residual value or percentage on a depreciated piece of property is necessary when you need to know the value of tangible assets for bookkeeping purposes. This information is also important ...

Charity begins at home. Stretch that aphorism to mean that charity can include the donation of your building to a qualified 501(c) nonprofit organization. Such donations benefit both the donor and the ...

In February, the Nebraska Supreme Court held that it is acceptable for insurance companies to depreciate labor costs when determining the actual cash value (ACV) of damaged property, even when the ...

If you have to file a homeowners insurance claim to replace damaged, destroyed or stolen items, you might be surprised to learn your policy doesn't necessarily cover the full cost of a replacement.