2011 Tax Stimulus
Section 179 Stimulus write-off has been passed and is in effect for 2011.
The Section 179 Deduction limit was increased to $500,000. The total amount of equipment that can be purchased was increased to $2 million.
The "Bonus Depreciation" was increased to 100% on qualified assets. However, this can be taken on new equipment only.
When applying these provisions, Section 179 is generally taken first, followed by Bonus Depreciation - unless the business has no taxable profit in 2011.
Also, many businesses find Section 179 Qualified Financing to be an attractive option in 2011.
Please see your accountant to see how your
company can benefit from this new law.
