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Federal Taxation of Social Security Benefits With millions of baby boomers close to retirement age and job losses inflicting financial strain on additional millions, many taxpayers are looking to social security benefits for financial assistance.   Which Is Best for Your Business: Section 179 or 100% Bonus Depreciation? Taxpayers who acquire assets for use in their trade or business activity have a very good chance of writing off the entire cost, thanks to 100% bonus depreciation plus very generous Section 179 deduction limits.   Voluntary Contractor Settlement Program (VCSP) Worker classification has generated controversy between taxpayers and the IRS for decades - with businesses pushing for independent contractor status and the IRS pushing for employee status.