Understanding Depreciation Recapture and Its Impact on Your Property Sale

Depreciation recapture can significantly impact the tax consequences of selling a property. This process involves paying taxes on the portion of the gain attributed to depreciation deductions claimed during ownership. Knowing how it works and planning accordingly can help you minimize its financial impact.

Bonus Depreciation vs. Section 179 Deductions in 2024: Maximizing Tax Benefits for Your Business

Choosing between bonus depreciation and Section 179 deductions can significantly impact your business’s tax savings. Both options allow for immediate expense deductions on qualifying assets, but understanding their differences is key to maximizing your benefits in 2024.