Enhanced  Expense Limits   
The new law almost doubles the amount of deductible Code Sec. 179 expensing for 2008 to $250,000 and increases the threshold for reducing the deduction to $800,000. It applies to property purchased and placed in service in tax years beginning in 2008.

This means for the first $250,000 in equipment put into service in 2008 your business gets a 100% tax deduction. Call us for strategies that put this benefit to work for you. We can structure finance agreements that allow you to expense the equipment while paying for it over a term of 2-8 years.
 
Requirements
Must be actively used in the taxpayer's business and for which a depreciation deduction would be allowed. The property must be used more than 50 percent for business and must be newly purchased property.

To be eligible to claim bonus depreciation, property must be (1) eligible for the modified accelerated cost recovery system (MACRS) with a depreciation period of 20 years or less; (2) water utility property; (3) computer software (off-the-shelf); or (4) qualified leasehold property. The property generally must be purchased and placed in service during 2008.

Resources
Here are a few more items that can help to explain the magnitude of this benefit.

Section 179 Calculator - Calculates the advantage of Leasing with Section 179. Simply enter your equipment cost at the top, and click on Calculate to see the Real Money Advantage of Leasing for 2008!

Benefits of Leasing - A short summary of what Leasing is, and how it benefits you.

 

Don't miss out on this extremely beneficial tax relief tool that the IRS has given to you and your business.

Don't wait until it's too late! Call us now, (800) 438-1470 and ask us how to maximize the benefit of this tax relief!