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| Tax Tips: Need Business Equipment? |
Nila Rakhit, CPA
08/05/2009
Need business equipment? Check out this tax break
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The tax law passed this year included important incentives for business investment.
The law extended the $250,000 limit for the first-year expensing of new or used equipment purchased for use in your business. This deduction is gradually phased out once you purchase more than $800,000 of equipment in 2009.
In addition, brand new equipment, software, and qualified leasehold improvements can qualify for 50% bonus depreciation if placed in service by the end of 2009.
The two benefits can 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.
Remember, money saved is money earned. We would like to help you maximize your tax savings. Give us a call at 617-678-4021 for tax-cutters suited to your specific situation.
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