NEWS ALERT: Jul 14, 2011 Both the 'Tax Relief Act of 2010' as well as the 'Jobs Act of 2010' that passed in late 2010 affected Section 179 in a positive way for this 2011 tax year. The newest changes are as follows:
The Section 179 Deduction limit increased to $500,000. The total amount of equipment that can be purchased increased to $2 million. This includes most new and used capital equipment, and also includes software.
The “Bonus Depreciation” increased to 100% on qualified assets. However, this can be taken on new equipment only.
When applying these provisions, Section 179 is generally taken first, followed by Bonus Depreciation – unless the business has no taxable profit in 2011.
Also, many businesses find Section 179 Qualified Financing to be an attractive option in 2011.
BE SURE TO CONTACT YOUR ACCOUNTANT
Videx Machine Engineering has a few demo models already in production
and ready to be finished according to customer's specifications.
This is a unique opportunity!
