Federal Tax Issues

Federal Tax Extensions

In December 2015 Congress passed and President Obama signed into law a series of tax changes important to restaurants, including the 15-year tax depreciation schedule for restaurant improvements/new construction, the Work Opportunity Tax Credit, the enhanced tax deduction for the food inventory that restaurants donate to charity, bonus depreciation, and and Section 179 expensing that allows companies to immediately deduct up to $500,000 in purchases of qualifying equipment and property.

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National Restaurant Association Tax Issue Brief

Tax extender summary

Tax changes provide more certainty for restaurateurs

Taxes and the restaurant industry