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| FREE NEWS ALERTS A free, comprehensive news service to keep small businesses and independent contractors posted on the latest tax developments affecting their operations.
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Thursday, Dec. 22 Depreciation – First-Year Expensing and Timing of Purchase, #102This brief considers which assets can be written off in the first year and how the timing of a purchase affects depreciation. First-year expensing is also known as a section 179 deduction. The maximum amount you can deduct for most section 179 property placed in service in 2005 is $105,000. The limit is reduced by the amount by which the cost of the property exceeds $420,000. Subscribers have free access to the archives. Click here. |
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