Uncle Sam's New Expense Rule
The Tax Cuts and Job Act was approved by Congress in December 2017. Section 179 expands the definition of qualified real property eligible for full expensing to include improvements to nonresidential roofs. What does this mean for you? You can immediately expense the cost of qualifying property rather than recovering such cost over multiple years through depreciation. Section 179 and Jobs Act significantly expands the expensing limit maximum from $1 million to $2.5 million. Qualifying taxpayers may now elect to fully expense the cost of any improvement to nonresidential roofs beginning in 2018 and in future years including full reroofs, which may now be expensed in the year of purchase by anyone eligible under Section 179. Contact us to discuss further on how Section 179 can benefit your business.
Cotterman in Columbus
Cotterman attended the Columbus Chamber of Commerce 95th annual Clambake at the Columbus Zoo. Cotterman also sponsored a hole at the Columbus Zoo golf outing this month.
Safety Tip of the Month
Fall Hazards are the 3rd most cited OSHA violations. It is crucial to ensure that job sites are free of obstructions and clutter to avoid fall hazards.
Did you know that Cotterman & Company is on Facebook? Come check out our Facebook page and give us a "Like".
Cotterman & Company, Inc.
Cell: (419) 234-1340
Office: (800) 713-3190
Minster, Dayton & Columbus, OH