Friday, November 12, 2010

Tax Benefits to Leasing

In September 2010, President Obama announced a Stimulus Initiative that allows a business to expense 100 percent of a new equipment purchases through tax deduction.  This full-value deduction can be taken while spreading out payments for the equipment over a longer term, such as a 60 month purchase.   IRS Section #179 will allow for the deduction of up to $250,000 of business equipment.  Credit and equipment restrictions apply.  This program doesn't assume you are eligible for the depreciation schedule.  Previous depreciation claimed may affect your ability to utilize the elections.   Consult your tax advisor or accountant for additional information.   Contact DunRite for more information about LEASING options and programs available. 

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