|
The Economic Stimulus Act of 2008, signed into law by President Bush
on February 13, 2008, includes two significant business related tax
incentives that may lower your cost of investing in new equipment . . .
**Businesses are encouraged to make capital investments by adding
a special 50 percent depreciation allowance for qualifying purchases.
This special “bonus depreciation” allowance is available to all
businesses and applies to most types of tangible personal property and
computer software acquired and placed in service in 2008. It allows
taxpayers to deduct 50 percent of the cost of qualifying property in
addition to the regular depreciation allowance that is normally
available.
**There are also new increased limits that businesses can expense under
the Economic Stimulus Act of 2008. Generally, the new law set a limit of
$250,000 that a business can expense during 2008, up from the limit
previously set for 2008 of $128,000.
**Reprinted from an IRS news release. |
