Enrolled Agent Exam [Part 2] 42, Bonus Depreciation — Phase-Down Schedule

About this episode

This episode discusses the bonus depreciation rate and its implications for the Enrolled Agent Exam.

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The bonus depreciation rate for 2024 is 60%, and it decreases by 20% each year until it reaches zero in 2027. - Used property now qualifies for bonus depreciation, a significant change from pre-TCJA rules and a common exam trap. - The election to opt out of bonus depreciation must be made for an entire asset class, not on an asset-by-asset basis. - Bonus depreciation is claimed on Form 4562, Depreciation and Amortization. - Certain long-production-period property benefits from a one-year delay in the phase-down schedule. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

People in this episode

Host: Ran Chen

Topics covered

• bonus depreciation
• phase-down schedule
• Enrolled Agent Exam
• tax law changes
• depreciation rules

Keywords

• bonus depreciation
• phase-down schedule
• Form 4562
• tax law
• Enrolled Agent Exam

Mentioned in this episode

Organizations: TCJA

Products: Form 4562

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