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.
Like what you've read? ...Republish it and share great business tips!
Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...
We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.
The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.
" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/8534/will-one-year-business-breaks-be-extended "