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Craig Tillison
713-628-7866
Credit
Application - Corporate
Profile - Mfg
Flyer |
NEW
2011 Tax Incentives
for Manufacturing Companies
$500,000
write-off!
Section
179 Federal Income Tax Deduction: This deduction allows a company to
deduct the first $500,000 of equipment (Section 179 Property)
purchased in 2011 from their taxable income. For companies purchasing
(or leasing - with a $1.00 buyout lease) up to $2,000,000 of
equipment in 2011, this deduction is available in full. It then
phases out on a dollar-for-dollar basis between $2,000,000 and
$2,500,000 and it is not available for companies purchasing over
$2,500,000 of equipment in 2011. However, companies can finance
purchases over $2,000,000 with an operating lease and may still be
able to claim this deduction.
100%
Bonus Depreciation for Machinery in 2011
The Tax
Relief, Unemployment Insurance Reauthorization, and Job Creation Act
of 2010 (H.R. 4853) was passed by the United States Congress on
December 16, 2010 and signed into law by the President on December
17, 2010. For investments in machinery placed in service after
September 8, 2010 and through December 31, 2011, the bill provides
for 100% bonus depreciation. For machinery investments placed in
service after December 31, 2011 and through December 31, 2012, the
bill provides for 50% bonus depreciation.
Always
check with your accountant to confirm eligibility for tax benefits.
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