The IRS reminds business owners that the passage of the Tax Cuts and Jobs Act may affect business depreciation deductions and taxes.
Generally, we business taxpayers can depreciate the tangible property except for land, including buildings, machinery, vehicles, furniture, and equipment.
These changes apply to property placed in service in taxable years beginning after December 31, 2017.
Courtesy of https://go.usa.gov/xQ8ux.
For exact details about how these depreciations apply to your business, please talk to your tax specialist. And to receive more tax tips and other financial information, subscribe to our emailed newsletter: