High Gravity Depreciation Deductions for 2015 and Beyond!
Purchase new brewing equipment in 2015?
We have big news if you did. In December of last year, Congress expanded the depreciation expensing election from $25,000 to $500,000 and made the law permanent. That’s just the beginning though as additional first-year bonus depreciation was extended for 2015 through 2019.
How about improvements to your facility/real estate? Expansion plans?
Big write-offs may be in store for your business here as well! “Qualified Improvement” write-offs were extended for 2015 and greatly enhanced for 2016. The recently enacted "Protecting Americans from Tax Hikes Act of 2015" (PATH) provides some exceptional tax planning opportunities for breweries: