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Accelerated Depreciation

A method of deducting the cost of an asset for tax purposes at a faster rate early in the asset's life, rather than spreading it out evenly over many years.

Bonus Depreciation (Full Expensing)

A tax incentive allowing businesses to deduct a large percentage (currently 100%) of the cost of eligible new business property in the year it's purchased and put into service, rather than depreciating it over many years.

Nonresidential Real Property

Buildings and land used for commercial or industrial purposes, such as factories, offices, and retail stores, but not for residential living.

Internal Revenue Code

The official body of tax laws of the United States, administered by the Internal Revenue Service (IRS).

Qualified Relocation of Manufacturing

The process of moving the production of goods from a foreign country to the United States, provided certain conditions are met, such as maintaining or increasing productive capacity in the U.S.

Exclusion of Gain

A provision that allows certain types of income or profit, such as from the sale of property, to be exempt from being included in taxable income, meaning no tax is owed on that amount.