United States:
American Taxpayer Relief Act of 2012
08 January 2013
Barnes & Thornburg
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The American Taxpayer Relief Act of 2012 (fiscal cliff
legislation) provides for an extension of 50 percent bonus
depreciation through the end of 2013. The deadline for 100 percent
bonus depreciation was not extended.
Basically, qualified property acquired by a taxpayer and placed
in service before Jan. 1, 2014 will be entitled to 50 percent bonus
depreciation.
"Certain aircraft" or "long-production period
property" may qualify for 50 percent bonus depreciation even
if they are placed in service in 2014.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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