What You Need to Know About Depreciation-Related Breaks on Business Real Estate

Special tax breaks that allow deductions to be taken more quickly are available for certain real estate investments. There are two breaks you might not be able to enjoy due to a drafting error in the TCJA.

Business Expense Deductions Affected by New Tax Law

The tax rules related to meals and entertainment have changed, and left some uncertainty in the gap between the old law and the new. Before the Tax Cuts and Jobs Act, the deduction allowed for entertainment expenses was limited to 50 percent of the amount otherwise deductible. Under the TCJA, the deduction for entertainment is completely repealed.