The 179 Tax Deduction Has Nearly Doubled for 2008!
The Section 179 deduction, which allows businesses to deduct upfront rather than depreciate over time the costs of certain kinds of equipment, has nearly doubled for 2008, rising to $250,000.
The bonus depreciation provision allows businesses to depreciate 50% of the cost of equipment, with the balance to be depreciated according to IRS rules.
This Means Huge Tax Savings for You.
You can receive the full $250,000 deduction for purchases up to $800,000. After that, the deduction decreases $1 for each dollar over $800,000.
Get You Orders in Early.
Deadline: Equipment must be bought and placed into service by Dec. 31 to qualify for the deduction.
After December 31, 2008, the maximum Section 179 deduction moves back to the 2007 level of $128,000 plus an inflation adjustment. Any unused portion of the $250,000 is lost opportunity to lower your taxes.
The time is now to save big! Call us today to learn how your practice can benefit from the Economic Stimulus Act.
1-866-815-7606 or
click here.
BuyDentalEquipment.com is not a tax advisor, please consult your tax advisor for details.
