Bonus Depreciation extended for 2011
On Dec. 17, President Obama signed legislation that would extend and expand the depreciation bonus through 2012.
What This Means:
This could be a huge advantage to anyone considering purchasing a new Thermwood CNC Router this year, by giving a business the ability to write off a huge portion of their machinery purchase on their 2011 tax return.
Depreciation Bonus At A Glance:
- This provides 100 percent depreciation bonus for capital investments placed in service after September 8, 2010 through December 31, 2011.
- Depreciation bonus is designed to help businesses cut their tax bill and buy new equipment.
- This bonus applies (among other things), to purchases of tangible personal property (including construction, mining, forestry, and agricultural equipment) with a MACRS recovery period of 20 years or less.
- The bonus applies to NEW equipment only.
- The bonus is allowed for both regular and alternative minimum tax purposes.
- Totally discretionary - Taxpayer need not claim the depreciation bonus
For more information on this incentive, please click here.
To calculate your potential savings, please click here