Recent changes made by the IRS and Congress have greatly expanded taxpayers' ability to currently deduct the costs of property purchased for business use, instead of having to depreciate those costs over many years. Three provisions allow taxpayers to accelerate deductions for the costs of capital assets and other property and avoid depreciation: bonus depreciation, expanded Sec. 179 expensing, and the de minimis exception to the tangible property, or "repair," regulations. Taxpayers can use all three provisions in the same year (although not on the same costs), and taxpayers and their advisers should understand the new rules to take full advantage of them. This article reviews the provisions.