Returning guest Jesse Palmer sits down with host Damien Martin to review changes to the bonus depreciation rules under the Tax Cuts and Jobs Act (TCJA) and break down what's addressed in recently released proposed regulations under Internal Revenue Code Section 168(k). Jesse also shares his insight on year-end planning after recent guidance to round out our week of TCJA-related guidance.

TIME STAMPS OF WHAT'S COVERED

• [02:51] History of bonus depreciation
• [05:16] Changes under the TCJA
• [09:05] What's addressed in the guidance
• [18:03] Situations where you may want to elect out of bonus depreciation
• [22:27] What wasn't addressed in the guidance
• [28:11] Where we are on TCJA-related guidance
• [32:29] Why you can't look at planning after TCJA in a vacuum
• [34:25] Action items to consider now
• [36:02] How the choice of entity analysis has changed with the guidance we've seen
• [37:49] There's much more TCJA-related guidance to come

BIO FOR GUEST

Jesse Palmer is a tax partner at BKD and serves as director of tax quality control at the firm's National Office Tax Department. His responsibilities include quality control, risk management and day-to-day administration of the firm's national tax practice. Jesse works closely with the national tax director on firmwide tax quality control projects and support-related tasks.

Connect with Jesse on LinkedIn

ADDITIONAL RESOURCES

Webinar Archive: Insights & Planning Points from the Proposed §199A Regulations

Summary: Bonus Depreciation after the TCJA

Simply Tax: Episode 27: The SALT Workarounds with Annette Nellen

Simply Tax: Episode 10: The International Side of Tax Reform

GET MORE SIMPLY TAX

A complete archive of our episodes is available on our website and YouTube playlist.

We'd love to hear from you! Email feedback and questions to [email protected].

Connect with Damien on social media!

LinkedIn | Twitter | Instagram