2027, business tax and financial statements

Understanding depreciation and its impact on corporate tax

ThomsonReuters

AUGUST 25, 2023

When enacted, bonus depreciation enabled businesses to immediately write off 100% of the cost of eligible property acquired and placed in service after Sept. The purpose of making a provision for depreciation is to enable a business client to account for the gradual decline in value of their fixed assets over time. 168  applies.

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Congress Fails To Pass Key Tax Extenders, Now What?

Withum

JANUARY 25, 2023

Some will try to argue that these changes merely result in timing differences, which generally do not impact tax financial statement disclosures. However, the amount of cash investment needed to be in compliance with these temporary federal income tax provisions could force some businesses to make tough decisions to stay afloat.

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Understanding depreciation and its impact on corporate tax

Congress Fails To Pass Key Tax Extenders, Now What?

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