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Important!
2008 Tax Laws for New and Used Equipment.
Very important changes have been made to the 2008 Tax Laws that will benefit buyers of new and used equipment.
1. Section 179 deduction is increased to $250,000!!!
This allows an immediate expensing of $250,000 for new or used capital equipment. This is designed to assist companies that acquire less than $800,000 a year in capital equipment, and is in addition to depreciation.
2. 50% Bonus Depreciation
Companies will be entitled to take an additional 50% bonus depreciation on all equipment acquired in 2008 without limitation.
The impact of these two significant deductions should jump start capital spending and equipment sales and help to stimulate the economy.
Consult your tax professional for details.
