With bonus depreciation gone, even equipment leasing companies that do not make any more book profit in 2005 than they did in 2004 may nonetheless find themselves facing sharply higher tax liabilities. In fact, 2005 taxes will be especially painful: First, equipment leasing companies will not have the advantage of applying bonus depreciation to new assets, so they have lost a substantial deduction. Second, depreciation is a zero-sum game. You can speed up or slow down the schedule, but you can never depreciate more than 100% of an asset's cost. So if you depreciate and deduct more than 50% of the value in its first year, there is significantly less value available to depreciate in subsequent years.
Nancy A. GearyPart Two of a Two-Part Series
Life Without Bonus Depreciation
With bonus depreciation gone, even equipment leasing companies that do not make any more book profit in 2005 than they did in 2004 may nonetheless find themselves facing sharply higher tax liabilities.
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An annual tradition continues as we present the responses to our Legalweek question. For 2026, it was "where are we with prompting"?
The volume and sophistication of work hitting law firm marketing departments is accelerating. That moves the burden from responding to being ready: ready with differentiated positioning, ready with competitive intelligence, ready to get a compelling pitch to the right client before a formal process even begins. That requires more sophisticated output, produced faster, by teams that are already stretched past capacity.
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The annals of copyright decisions could provide a reasonably representative catalog of what our culture has been up to over the past 200 years. A Feb. 3 decision from the Southern District of New York is a case in point. It involves a sex-trafficking conspiracy, Tweets attacking a troubled crypto firm, and a claimed transfer of copyright ownership through a restitution order in a criminal case, all over an undercurrent of competing First Amendment and victim-privacy concerns.
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