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The American Recovery and Reinvestment Act of 2009 extends the $250,000 Code Section 179 expensing limit that was in effect for 2008 to 2009 and does apply to used machinery. Similar to 2008, the deduction is reduced to the extent the cost of qualifying property placed in service during the taxable year exceeds $800,000.
The original provision: Section 179 deduction increased. For property placed in service during a tax year
beginning in 2008, the limit for the Section 179 deduction to expense certain depreciable business property has been increased to $250,000. This limit will be reduced when the total cost of Section 179 property placed in service during the tax year exceeds $800,000.
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As of 7/29/2010 No Article. Please Stay Tuned...
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As of 7/29/2010 No Article. Please Stay Tuned...
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As of 7/29/2010 No Article. Please Stay Tuned...
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