Bonus Depreciation & Section 179 Depreciation Deduction Rules for 2012
Taxpayers may want to consider making fixed asset purchases before December 31, 2012 to take advantage of two accelerated depreciation options:
1. Bonus Depreciation: For most qualified property placed into service in between January 1, 2012 and December 1, 2012, the maximum bonus depreciation allowance is 50% of the cost of the property. Purchasing new assets that have a useful life of 20 years or less generally qualify for bonus depreciation. Bonus depreciation amounts are based upon a calendar year.
2. Section 179: For tax […]