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Thursday, July 30, 2020

What is TCJA?




That stands for Tax Cuts Jobs Act

What about Small Businesses?

Congress came up with a 20% deduction

Bonus Depreciation:

-50% first-year bonus depeciation deduction
-Only new assets qualify used assets do not

Qualified Leasehold Improvements:

-All 3 categories now fall under only one qualified Improvement Property

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