*Recognize correctly how the Consolidated Appropriations Act of 2015 made permanent amendments to Section 179’s 500,000 expense limitation and phase-out amounts *Recognize correctly important tax planning distinctions between Section 179 100% depreciation and Section 168(k) bonus depreciation
The Consolidated Appropriations Act of 2015 made permanent the Section 179 $500,000 expense limitation and $2 million phase-out amounts. The Act also extended Section 168(k) through at least 2019, reducing the 50% bonus depreciation to 40% in 2018 and 30% in 2019. However, the Act left the Section 280F Statutory/Regulatory anomaly unchanged. Taxpayers benefit from Treasury's definition of the SUV weight limits for Section 179 100% depreciation and Section 168(k) bonus depreciation purposes.
This webcast involves Section 179 depreciation expense at the partnership level in a startup operation. Although not incorporated into this webcast, Dr. Jenkins wants to share his paper, "Why Section 179(b)(3)(A)'s Business Income Limitation Does Not Apply to Partnerships or S Corporations." The paper is currently in peer review at a university tax journal. Also, the ACPEN/BPN webcast based on this paper will be first aired during the week of September 25-29, 2017. Please be sure to look for that announcement and register for the webcast.
Consolidated Appropriations Act
Section 179 and 168(k) Comparisons
The Section 179 SUV Deduction