As things stand now, the “bonus depreciation” deduction and doubledincluded in last year’s economic stimulus law last for just one year.
For example, your business may claim 50% bonus depreciation for qualified assets only if the assets were placed in service in 2008. (Exceptions exist for certain property costing more than $1 million and transportation property.)
But Congress might agree to extend the deadline longer. We’ll watch new developments closely and report any changes as soon as possible.