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Is Tax Reform Spurring Companies to Use Robots?

 

More companies are finding more uses for robots, a broad trend that certainly will further expand. Many factors explain it — including a perhaps surprising one: the Tax Cuts and Jobs Act. A key provision of the tax reform law allows companies to deduct 100 percent of the cost of equipment in the year of its purchase, rather than depreciate the cost over a period of up to seven years. The immediate tax benefit may be a deciding factor for a company that could purchase robots to perform work traditionally handled by humans, notes Marvin Kirsner, an attorney with law firm Greenberg Traurig. Read more at CFO.com.