IRS and Treasury Finalize Last Set of Bonus Depreciation Regulations

By:  Amanda Wilson

One of the key tax benefits for investors and owners of real estate such a senior living facilities is depreciation.  The 2017 Tax Cuts and Jobs Act expanded on this benefit, allowing for 100% bonus depreciation for assets with less than a 20 year useful life.  Business assets that can generally qualify include improvements to existing buildings, machinery, equipment, computers, appliances and furniture if placed in service after September 27, 2017.  The last set of regulations implementing these new bonus depreciation rules were just released by the Treasury Department and the Internal Revenue Service.  If your business is in a position to benefit from these rules, the new regulations can be found here.

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