Depreciation and Expensing Provisions Retroactively Extended by the Tax Increase Prevention Act of 2014

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Dear Client,

On Dec. 16, 2014, Congress passed the “Tax Increase Prevention Act of 2014” (TIPA, or “the Act”), which the President recently signed into law. As explained in this Special Study, the Act extends through 2014 a host of depreciation and expensing provisions for businesses that had expired at the end of 2013, including generous Code Sec. 179 expensing and phaseout limits; 15-year write-off for qualifying leasehold improvements, restaurant buildings and improvements, and retail improvements; and 50% bonus first-year depreciation.

Please read this article to for more specific details about the TIPA.  Contact our office to discuss your specific situation.

Sincerely yours,

Dean R. Holland, CPA


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