Expensing of Depreciable Business Assets
January 5, 2009
The total cost that may be deducted for investments in depreciable business assets (Section 179 property) is $250,000 in 2008(only). This amount is reduced by the amount by which the cost of qualifying property placed in service in 2008 exceeds $800,000.
We will provide you guidance in the filing instructions for your tax return or separate estimated payments on how to comply with these new requirements if they are applicable to your situation.