Section 179 deduction vs. bonus depreciation: How they work, how they differ
The Section 179 deduction and bonus depreciation both let businesses write off expenses quickly. Here’s what you need to know.
6 min read
Mar 05, 2025
Anna-Louise Jackson
Anna-Louise Jackson is a contributor to Bankrate, covering taxes and personal finance. Jackson's career began about 15 years ago at Bloomberg, where she covered financial markets and the economy. She's since written about personal finance topics for CNBC, The Associated Press, The Wall Street Journal, Time, Money, NerdWallet. Her reporting has also been published by Bloomberg Businessweek, Fast Company and Success. Jackson enjoys making complex topics more understandable for readers.
Anna-Louise's latest articles
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American Opportunity Tax Credit: What it is, who qualifies, how to claim it
The American Opportunity Tax Credit is worth up to $2,500 if you’re paying for qualified educational expenses for yourself or a dependent.
4 min read Feb 23, 2025 -
Self-employment tax: What it is, how to calculate it
If you work for yourself, you’ll likely have to pay self-employment taxes in addition to income taxes. Here’s how it works.
4 min read Jan 23, 2025 -
File taxes online: Tools, tips, deadlines and more
Here are four tools you can use to file your taxes online, plus tips, deadlines to remember and more.
6 min read Jan 19, 2025 -
Standard deduction vs. itemized deduction: Pros and cons, and how to decide
You have to do some math to choose between claiming the standard deduction and itemizing, but it’s worth it.
4 min read Jan 11, 2025 -
Marginal tax rate: What it is and how to find yours
The marginal tax rate is the highest income tax rate you’ll pay on your income. Because the U.S. has a progressive tax system, different tiers of your income are taxed at different rates. The marginal [...]
5 min read Dec 18, 2024 -
What is adjusted gross income (AGI), and why does it matter?
Your adjusted gross income, or AGI, is your gross income minus a handful of above-the-line deductions.
3 min read Dec 17, 2024 -
State and local tax (SALT) deduction: What it is and how it works
The SALT deduction lets taxpayers deduct the money they spend on state and local taxes.
3 min read Dec 12, 2024