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Act now to speed up ‘bonus depreciation’

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in Small Business Tax,Small Business Tax Deduction Strategies

It usually takes a long time—39 years, to be exact—to recoup the full cost of a business building through depreciation deductions. But there’s a way to secure faster tax benefits. Strategy: Separate building components for tax purposes. As long as you meet certain requirements, you may write off the cost of some building components in only five or seven years.

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