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Special Business Incentives and Tax Advantages
The Economic Stimulus Act of 2008, also called HR 5140, is a new tax act that was signed by the President on February 13, 2008. The act includes benefits for individuals and for businesses. The terms of the act include two temporary incentives designed to stimulate capital equipment purchases: renewing and modifying the 50% bonus depreciation and increasing the IRS Section 179 expensing limits.
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; or (2) computer software; or (3) qualified leasehold property. The property generally must be new to the taxpayer, and purchased and placed in service during 2008.
Tax Act - Key Elements
Section 179 Expensing:
CapX equipment lease financing solutions can enable you to take full advantage of these tremendous tax advantages. You can receive 100% financing, obtain your new equipment sooner, and still reap the full tax savings this year. This is a powerful combination!
Note: Consult your tax advisor to evaluate your specific situation.
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