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  2. Tax Relief and Health Care Act of 2006 - Wikipedia

    en.wikipedia.org/wiki/Tax_Relief_and_Health_Care...

    Indian employment tax credit; Accelerated depreciation for business property on Indian reservations; Fifteen-year depreciation for qualified leasehold improvements and qualified restaurant property; Enhanced charitable deductions—for corporate donations of scientific property used for research, and of computer technology and equipment

  3. What Is the Tax Cuts and Jobs Act (TCJA)? - AOL

    www.aol.com/finance/tax-cuts-jobs-act-tcja...

    Taxpayers can deduct depreciation on any section 179 property (e.g., qualified improvement property) the year it’s ready for use (with a maximum deduction of $1 million — up from $500,000 ...

  4. MACRS - Wikipedia

    en.wikipedia.org/wiki/MACRS

    The 3-, 5-, 7-, and 10-year classes use 200% and the 15- and 20-year classes use 150% declining balance depreciation. All classes convert to straight-line depreciation in the optimal year, shown with an asterisk (*). A half-year depreciation is allowed in the first and last recovery years.

  5. Economic Recovery Tax Act of 1981 - Wikipedia

    en.wikipedia.org/wiki/Economic_Recovery_Tax_Act...

    The accelerated depreciation changes were repealed by the Tax Equity and Fiscal Responsibility Act of 1982, and the 15% interest exclusion was repealed before it could take effect by the Deficit Reduction Act of 1984. The maximum expense in calculating credit was increased from $2000 to $2400 for one child and from $4000 to $4800 for at least ...

  6. Jobs and Growth Tax Relief Reconciliation Act of 2003

    en.wikipedia.org/wiki/Jobs_and_Growth_Tax_Relief...

    The tax cuts enacted by this legislation were retroactive to January 1, 2003, and first applied to taxes filed for the 2003 tax year. These individual rate reductions are scheduled to sunset on January 1, 2011, along with the Economic Growth and Tax Relief Reconciliation Act of 2001 unless further legislation is enacted to extend or make ...

  7. Energy-efficient home improvements that can help lower taxes ...

    www.aol.com/finance/energy-efficient-home...

    The Energy Efficient Home Improvement Credit allows homeowners to claim 30% of qualified expenses up to $3,200, each year they make improvements. That means homeowners can claim credit for ...

  8. Section 179 depreciation deduction - Wikipedia

    en.wikipedia.org/wiki/Section_179_depreciation...

    Under section 179(b)(1), the maximum deduction a taxpayer may take in a year is $1,040,000 for tax year 2020. Second, if a taxpayer places more than $2,000,000 worth of section 179 property into service during a single taxable year, the § 179 deduction is reduced, dollar for dollar, by the amount exceeding the $2,500,000 threshold, again as of ...

  9. Are Home Improvements Tax Deductible? - AOL

    www.aol.com/finance/home-improvements-tax...

    Improvements you make to a rental property — work that adds to your home’s value, prolongs its useful life or adapts it to new uses — are deductible, but you’ll likely have to depreciate ...

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