According to the 2008 changes to the Section 179 Deduction in the
IRS tax code, the maximum 1-year write-off was doubled to $250,000
for qualified equipment purchases.*
The good news is that signs qualify for the accelerated depreciation! A new
sign purchased and installed in 2008 can be fully depreciated in just 1 year!
(Subject to the applicable limits.)
Now is the time to invest in that new sign to help
your business grow! Now is the time to buy that
new electronic message display!
*Ask your accountant to see how it may apply to your business.
| Depreciation and Section 179 Expense
2008 Changes Increased Section 179 limits The maximum section 179 deduction you can elect for qualified section 179 property you placed in service in tax years that begin in 2008, has increased to $250,000 ($285,000 for qualified enterprise zone property and qualified renewal community property). This limit is reduced by the amount by which the cost of section 179 property placed in service in the tax year exceeds $800,000. For qualified section 179 Gulf Opportunity (GO) Zone property placed in service in certain counties and parishes of the GO Zone, the maximum deduction is higher than the deduction for most section 179 property. Special depreciation allowance for certain property From Internal Revenue Service website- http://www.irs.gov/formspubs/article/0,,id=177054,00.html |
