CliftonLarsonAllen details tax breaks that ended in 2021

40 tax breaks ended in 2021

CliftonLarsonAllen (CLA) has posted a new report addressing 40 tax breaks that phased out during 2021 and the impact they may have on small and large businesses when filing current and future taxes.

CLA says six of the tax breaks phased out in the third quarter and the rest ended at year end. A few were COVID-19 pandemic relief related but most what the firm calls perpetual "'tax extenders' that Congress has not made permanent yet."

A few key changes included in the report include: 

  • Limitations on business interest are reverting
  • Employee retention credit (ERC) still available
    Bonus depreciation is phasing out
  • Research and development costs must be amortized
  • Business tax planning is essential

To read the full report and better understand how these changes could impact your operation, please go to 

Learn how to move your used trucks faster
With unsold used inventory depreciating at a rate of more than 2% monthly, efficient inventory turnover is a must for dealers. Download this eBook to access proven strategies for selling used trucks faster.
Used Truck Guide Cover