Bonus depreciation lets businesses immediately deduct the full cost of qualifying assets, such as property with a tax life of 20 years or less, when placed in service. The OBBBA permanently restored ...

A key provision that extends three-year tax depreciation for all racehorses through 2020 was signed into law Dec. 20 by President Donald Trump. The racehorse provision, which received bipartisan ...

At the beginning of 2022, provisions were introduced into the CIT Act limiting the amount of tax depreciation deductions in real estate companies. According to Article 15(6) of the CIT Act, ...

The National Thoroughbred Racing Association is teaming up with Dean Dorton, a Top 100 CPA and advisory firm, to host a deep dive webinar on the One Big Beautiful Bill Act and its tax implications ...

The enacted One Big Beautiful Bill (H.R.1, O3B) amends current tax law provisions and adds other provisions that affect real estate investments. This alert is intended to provide a summary of tax ...

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...

House Ways and Means Committee Chairman Jason Smith, R-Mo., center left, talks with Rep. Adrian Smith, R-Neb., center right, during an April 2023 committee hearing. (AP Photo/Kevin Wolf) Two tax ...

With 30 tax provisions set to expire at the end of 2025, the tax liabilities for family farms could increase at a time America’s farm families can ill afford any additional hits to the budget.

Michigan Governor Gretchen Whitmer signed House Bill 4961 into law on Oct. 7, 2025, decoupling the state from the five provisions of the federal One Big Beautiful Bill Act. Immediate deduction of ...