For the last five years, manufacturers have enjoyed a bonus depreciation tax incentive. The Tax Cuts and Jobs Act of 2017 (TCJA) increased bonus depreciation by allowing business taxpayers to deduct 100% of eligible asset expenses upfront from their taxable income rather than having to depreciate the cost over several years.
The intent was to leave business owners with more cash to invest in their businesses and spur capital purchases. This accelerated depreciation has been a significant tax saving…
