The Section 179 deduction, which allows businesses to deduct upfront rather than depreciate over time the costs of certain kinds of equipment, has nearly doubled, rising to $250,000.
The bonus depreciation provision allows businesses to depreciate 50% of the cost of equipment, with the balance to be depreciated according to IRS rules.
This Means Huge Tax Savings for You.
You can receive the full $250,000 deduction for purchases up to $800,000. After that, the deduction decreases $1 for each dollar over $800,000.
Any unused portion of the $250,000 is lost opportunity to lower your taxes.
The time is now to save big! Call us today to learn how your practice can benefit from the Economic Stimulus Act. 888-844-1405 or click here.
Use our Tax Calculator to find your potential savings
