We noted above that the Act also retroactively made 40% if placed in service in 2019 and at 30% if placed permanent the ability to expense qualifying property, in service in 2020. A corporation’s ability to forgo including qualified real property, up to $500,000, bonus depreciation on such property and increase its subject to adjustments noted. The previous exclusion alternative minimum tax credit is also extended. from this provision of air conditioning and heating units This alert is a publication of Loeb & Loeb and is intended to provide is eliminated for taxable years beginning after 2015. information on recent legal developments. This alert does not create or In addition, the Act retroactively extends 50% bonus legal advice or an opinion on specific situations. depreciation for qualified leasehold improvement continue an attorney client relationship nor should it be construed as © 2016 Loeb & Loeb LLP.

All rights reserved. property placed in service before January 1, 2019, at Loeb & Loeb’s Tax Practice MICHELLE W. ALBRECHT jlevine@loeb.com 212.407.4950 jlilien@loeb.com 212.407.4911 jloeb@loeb.com 310.282.2266 mmancini@loeb.com 202.618.5006 ameyerson@loeb.com 310.282.2156 DAVID C. NELSON dnelson@loeb.com 310.282.2346 310.282.2353 STEVEN M.

OLENICK solenick@loeb.com 212.407.4854 sblumenthal@loeb.com 202.618.5009 LANNY A. OPPENHEIM loppenheim@loeb.com 212.407.4115 DEBORAH J. BROSS dbross@loeb.com 310.282.2245 MARCUS S.

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