Scopelitis, Garvin, Light, Hanson & Feary, P.C.


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Publication Details

Transportation Brief: Temporary 100% Expensing

by Ronald J. Morelock

March 5, 2018

For qualified property acquired and placed in service after September 27, 2017, and before 2023, the Act temporarily increases the additional first-year bonus depreciation percentage from 50% to 100% with the percentages phasing down annually through 2026.  The law extends the bonus depreciation opportunity to qualified used property as well, provided the purchaser had not previously used the property, and the property was not acquired from a related party.  Given the availability of an immediate deduction on used assets, buyers and sellers may want to explore the possibility of mutually beneficial means to structure transactions as asset deals.


Scopelitis’ Transportation Brief® is intended as a report to our clients and friends on developments affecting the transportation industry. The published material does not constitute an exhaustive legal study and should not be regarded or relied upon as individual legal advice or opinion.


Also in this issue:
  • Transportation Brief: The New Tax Law Overview
    by Kelli M. Block , Steven A. Pletcher
    The Tax Cuts and Jobs Act (the Act) resulted in the most sweeping tax overhaul in decades. This offers overview of the changes in the Act that may have the most significant impact upon the transportation industry. Read Scopelitis' more here.
  • Transportation Brief: Business Income Tax Rates
    by Ronald J. Morelock
    The centerpiece of the Act is a permanent reduction to the corporate income tax rate.  Read Scopelitis' insight here. 
  • Transportation Brief: Like-Kind Exchange
    by Ronald J. Morelock
    Under the prior tax law, owners of investment and business property could defer paying tax on gains if they exchanged property held as an investment or use in the taxpayer’s trade or business for property of a “like-kind” (1031 exchange). The Act retains like-kind treatment for real estate exchanges. Read Scopelitis' insight here. 
  • Transportation Brief: The Tax Law and Motor-Carrier-Sponsored Per Diem Plans
    by Kelli M. Block , Steven A. Pletcher
    While the Act did not change the motor carrier’s side of the balance sheet when it comes to properly structured per diem plans, motor carriers must ensure their per diem plans are carefully structured. Read Scopelitis' insight here.
  • Transportation Brief: Spotlight on Taxation Practice Area
    When federal laws took effect at the beginning of 2018, Scopelitis attorneys acted quickly to assist with federal compliance issues, and with the subsequent issues that continue to arise as states readjust to align with the new tax environment. Each member of Scopelitis’ Taxation Practice offers a unique set of experiences and thought leadership. Read more about them here.
  • Transportation Brief: For the Record
    We are pleased to announce that Jerry Cooper, a Partner in the Firm’s Chicago office, has been reappointed as a member of the Illinois Workers’ Compensation Commission Self-insurance Advisory Board effective through January 1, 2022.
  • On the Road
    Scopelitis attorneys are often invited to participate in meetings with transportation industry leaders. Learn more about their trips this quarter.
  • Dispatches
    Transportation Industry News & Trends