Graces under fire
These recently augmented tax breaks will help restaurateurs who file this April. But whether they'll be able to use them again next year is anyone's guess.
Qualified restaurant improvements: Allows restaurateurs who bought property in 2009 to claim depreciation over 15 years instead of the previous 39, meaning operators could deduct $100,000 a year for 15 years for a $1.5 million building instead of today's $38,000 yearly over 39 years.
Bonus depreciation: Operators are able to recapture 50 percent of items' costs via first-year write-offs, then depreciate the remaining balance over time.
Work Opportunity Tax Credit: Gives business owners a credit of up to 40 percent of the first $6,000 of wages paid to certain employees in certain less-employed groups. Last year that group was extended to include certain unemployed veterans and "disconnected youth."
Extension of claimable net operating losses: Amended to allow restaurateurs to claim losses from five years back, instead of two.