Benefit From Bonus Depreciation In 2008: Save Even More With Cost Segregation

Topics:
Tax Incentives
Tags:
Benefits,
Bonus Depreciation,
Depreciation,
Human Resources,
O'Connor & Associates
Source:
O'Connor & Associates

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Overview: While many are concerned about the downfalls of the country's economic slowdown, there is a silver lining. Congress has approved, as part of its national stimulus package, 'Bonus depreciation' for 2008. The benefits include the ability to take additional depreciation on qualifying property in 2008. The caveat is the very short window of opportunity to take advantage of this package. Bonus depreciation isn't a new concept. In fact, it has been used in several economic stimulus packages in the past, including the New York Liberty Zone, and the Gulf Opportunity Zone. Bonus depreciation allows qualified taxpayers to take an additional 50 percent depreciation of the basis of the qualifying property in the first year.

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Format: HTML | Date: Feb 2008 | Pages: 3

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