Depreciation - New business equipment
Answer:
Most new business equipment can be either depreciated over its useful life or expensed immediately under Internal Revenue Code Section 179. The 2013 maximum deduction is $500,000 with a $2,000,000 Investment based celing.
The 2012 maximum deduction was the same amounts.
ATRA, extends the amounts deductible by a taxpayer for 2010 and 2011 under Code Sec. 179 to2013
Generally, qualifying property is: Tangible personal property (such as machines, equipment, furniture).
Certain other tangible property used for specific purposes. Single-purpose agricultural or horticultural structures. Certain storage facilities. Railroad grading’s or tunnel bores.
The 2012 maximum deduction was the same amounts.
ATRA, extends the amounts deductible by a taxpayer for 2010 and 2011 under Code Sec. 179 to2013
Generally, qualifying property is: Tangible personal property (such as machines, equipment, furniture).
Certain other tangible property used for specific purposes. Single-purpose agricultural or horticultural structures. Certain storage facilities. Railroad grading’s or tunnel bores.
