Depreciation for 2008
Economic Stimulus for Business
If you're planning to purchase business equipment, be aware of these two depreciation rules: You can expense $250,000 worth of new or used equipment purchased for your business this year, and you can take 50% bonus depreciation on new equipment purchases.
You can use both breaks this year, and the two benefits can even be combined on the same purchase. For example, you can use the expensing option on a piece of equipment and apply bonus depreciation to the remaining cost if the property qualifies. Off-the-shelf computer software qualifies for both tax breaks.  |
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Plan your Purchases
Plan your Purchases As you plan your acquisitions, remember that both 50% bonus depreciation and the increased expensing election are available only for 2008. Also, the expensing benefit phases out once your total equipment purchases for 2008 exceed $800,000. For details and help in best utilizing
these tax breaks, give us a call.
Vincent Porter, CPA
Porter & Company, CPA's
One Arlington Centre
1112 E. Copeland Rd. Suite 140
Arlington, TX 76011
817-261-2582 , x 2 Office
817-460-7609 Fax
www.MyTexasCPA.com
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