Tax Relief Act Allows 100 Percent Bonus Depreciation for 2011

摘要

The 100 percent bonus depreciation provides a huge tax-saving opportunity for businesses that purchase qualifying assets. The 100 percent bonus depreciation applies to new assets purchased and placed in service before January 1, 2012. This will benefit businesses of all sizes because this bonus depreciation is not affected by the phase-out rules that apply to IRC Section 179 expensing. Businesses that purchase used assets may still be able to take advantage of the high Section 179 expensing limits. However, now that Congress has turned its attention to dealing with the budget deficit, businesses of all sizes should consider replacing old assets or accelerating expansion plans to take advantage of these tax-savings opportunities before they expire.