Bonus depreciation was originally a part of the Tax Cuts and Jobs Act of 2017, but phased down from the 100% level beginning in 2023 and was set to permanently expire by 2027, according to Thomson Reuters. The bonus depreciation policy applies to a slew of qualified, physical business expenses which depreciate over time, such as machinery and company cars, but the policy is often associated with big-ticket luxury items, such as private aircraft, and its institution last decade led to a boom in

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