A changing tax landscape doesn’t have to mean bad news – at least not just yet. Historically, bonus depreciation has had a significant effect on construction of new vessels, allowing businesses to initially expense 30 percent, occasionally 100 percent and most recently 50 percent, plus the standard Modified Accelerated Cost Recovery System (MACRS) of the cost of newly built equipment. In the first year of purchase, this had a significant effect on the building of new vessels. Order books at most builders swelled as the incentives kicked in. Section 179 expensing for “new to you” assets ranged from a low of USD $20,000 in 2000 all the way to $500,000 in 2013. Then, in December of last year, the U.S.