About / News SPECIALS / USED Locations Service/Parts Tooling Financing Contact Employment Texas - Oklahoma Manufacturing & Job Shop Solutions Since 1984 (800) 683-1516 VERTICAL SPINDLE HORIZONTAL SPINDLE AUTOMATED MACHINING TURNING CENTERS GRINDING & FINISHING METAL FABRICATION Dean Dawson (Located in Texas) Ph: (618) 993-9847 / Cell: (469) 834-8031 Credit Application 2010 Tax Incentives The HIRE Act of 2010 - The 'Hiring Incentives to Restore Employment Act' of 2010 passed on a bipartisan Senate vote of 68-29 extended the enhanced Section 179 deductions of 2008/2009 into 2010. Businesses can now write-off up to $250,000 of "qualified property" during the 2010 tax year - subject to a phase-out if a business has capital expenditures exceeding $800,000.00. Please note that the HIRE Act does not extend the 50% bonus depreciation that was available in the 2009 tax year. In 2010, the maximum Section 179 write-off is $250,000. These tax savings could be used to make some of your monthly payments thereby reducing the overall cost of ownership. Example of Tax Savings: Section 179 Deduction + MACRS Depreciation Equipment Cost: $275,000.00 Section 179 Expense (up to $250,000) $ 250,000.00 1st Year Depreciation Expense (7 Year Asset Depreciation for 1st Year = 14.29%) $ 3,573.00 Total 1st Year Write-Off: $ 253,573.00 Savings on Equipment Purchased/Leased Assuming a 35% Tax Bracket: $ 88,751.00 Net Equipment Cost after Tax Savings: $ 186,249.00   Chris Richardson 317-695-3000 Credit Application Craig Tillison 713-628-7866 Credit Application - Corporate Profile - Mfg Flyer