Bonus Depreciation—Act by year’s end

With year-end planning quickly approaching, keep in mind that additional bonus depreciation is back. Section 179 expense limits were also increased for 2008.

The Economic Stimulus Act reinstated additional first year 50% bonus depreciation for qualifying new assets placed in service in 2008. The Stimulus Act also increased the Section 179 expense election from $128,000 to $250,000 and increased the overall investment limit from $510,000 to $800,000.

Call to learn which assets qualify. Timely tax planning can help maximize these deductions.