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08 Tax Incentives
March 27, 2008
February 13, 2008 - President signs Economic Stimulus Act (ESA) of 2008
The ESA has key tax saving provisions for US businesses. Under the new law, the Section 179 expensing limit increased to $250,000. The ESA also temporarily reinstates bonus depreciation (50% for 2008).
What does this mean for your business? The purchase of a Battery Extractor System with a total cost of $250,000 or less may generally be expensed, for tax purposes, for the full purchase price in 2008.
The purchase of a Battery Extractor System with a total cost of more than $250,000 ordinarily allows you to take advantage of the new bonus depreciation as well as the new Section 179 limit and your standard depreciation.
Eligibility for these tax incentives requires that the equipment be purchased and placed in service prior to January 1, 2009.
