Angus Hines
11-20-2008, 5:55 PM
I have noticed several people waiting to make big Equipment purchase till next year. But I just saw this on the ShopBot site and thought I'd share it over here.
So for some it may be better to make those purchase this year while we still have some advantages to do so.
This was cut and pasted directly from the site spelling errors and all.
2008 Economic Stimulus Act
Many of us have helpful checks coming, but the Economic Stimulus Act also provides for attractive bonus depreciations that may be relevant to ShopBot Business purchasers. Of primary interest is the enhancement to Section 179 Expensing which allows businesses to deduct the cost of certain purchases including equipment as an expense during the purchases firt year of service instead of spreading the depreciation over several years. In 2007, the amount that could be treated in this manner was $128,000. In 2008 this amount has been increased to $250,000.
Of course, don't take this as the final word for your situation without consulting your accountant or tax advisor.
So for some it may be better to make those purchase this year while we still have some advantages to do so.
This was cut and pasted directly from the site spelling errors and all.
2008 Economic Stimulus Act
Many of us have helpful checks coming, but the Economic Stimulus Act also provides for attractive bonus depreciations that may be relevant to ShopBot Business purchasers. Of primary interest is the enhancement to Section 179 Expensing which allows businesses to deduct the cost of certain purchases including equipment as an expense during the purchases firt year of service instead of spreading the depreciation over several years. In 2007, the amount that could be treated in this manner was $128,000. In 2008 this amount has been increased to $250,000.
Of course, don't take this as the final word for your situation without consulting your accountant or tax advisor.