50% Bonus Depreciation in 2008
January 5, 2009
For tangible personal property acquired after December 31, 2007 and placed in service before January 1, 2009, taxpayers must (unless electing out) deduct 50% of the adjusted basis. The deduction is after the section 179 expense deduction. For autos, light duty trucks and vans placed in service after December 31, 2007 and placed in service prior to January 1, 2009, used more than 50% for business, the first year deduction limit is increased to $8,000.