- Taxpayer must purchase the qualified property during the 2008 tax year, subject to a binding lease or purchase contract signed in 2008
- Property must be placed in service in 2008
- Property has MARCS recovery paid of less than 20 years
The time to lease/purchase is now!
Economic Stimulus Act of 2008
Title I – Recovery Rebates and Incentives to
Section 102 – Increases in 2008: (1) the expensing
allowance for depreciable business assets to
$250,000: and (2) the maximum investment
phase-out threshold for such expensing allowance
Section 103 – Increases to 50% the amount of the
adjusted basis of certain depreciable property that
may be claimed as a deductible expense in 2008.
We do not offer or provide tax or accounting advice. For details
on the Economic Stimulus Act of 2008, please consult your
financial advisor and/or tax and accounting professional(s).