A First Step: Senators Introduce Bill To Fix Costly Depreciation Mistake In GOP Tax Law

By Tony Nitti, Contributor

Taxpayers who improved the interior portion of a nonresidential building after 2017 were promised an immediate deduction of those costs. Due to a mistake in the Tax Cuts and Jobs Act, however, those costs are currently required to be depreciated over 39 years. Might a fix be on the way? …read more