Mar 30

Wednesday, March 30, 2011 Location: Blogs nXio Blog I.T. Tips

Tags:

 NEWS ALERT:  Feb 25, 2011   Two congressional acts affecting Section 179 in a positive way for this 2011 tax year passed in late 2010 (The Tax Relief Act of 2010 and The Jobs Act of 2010). The newest changes are as follows:

 

The Section 179 Deduction limit was increased to $500,000. The total amount of equipment that can be purchased was increased to $2 million. This includes most new and used capital equipment, and also includes software.

 

The “Bonus Depreciation” was increased to 100% on qualified assets. However, this can be taken on new equipment only.

When applying these provisions, Section 179 is generally taken first, followed by Bonus Depreciation – unless the business has no taxable profit in 2011.

Also, many businesses find Section 179 Qualified Financing to be an attractive option in 2011.

 

For more information please visit: http://ht.ly/4l9a9


Your name:
Title:
Comment:
Security Code
Enter the code shown above in the box below
Add Comment    Cancel  

 

 LinkedIn Facebook Twitter YouTube

Newsletter Sign up