Facts
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New Tax Legislation
Can Help You Save More in 2009
H.R. 5140 –
The Economic Stimulus Act of 2009 Spurs Business Investment
A temporary change to the tax code that became effective February 13, 2009, makes it extremely beneficial for businesses to acquire capital equipment - machinery, computers, and other tangible goods, this year. The new legislation provides the following incentives:
Bonus Depreciation – Businesses investing in qualifying equipment can deduct an additional 50% of the cost of their asset in 2009 Businesses usually prefer to deduct the cost of equipment in a single tax year, rather than deducting a small amount over a number of years. Increased Expensing - Businesses placing less than $800,000 of equipment into service this year can immediately deduct up to $250,000 (up from $128,000) The new tax incentive plan for 2009 increases the threshold for capital spending from $510,000 to $800,000, which gives businesses a greater capacity for investment. Businesses that spend less than $800,000 in 2009 on equipment or property can now write off up to $250,000 (up from $128,000). The $250,000 deduction begins to phase out when businesses purchase more than $800,000 in 2009.
What Does This Mean to You?
Non-tax/capital leases, including $1 Buyout or Purchase Upon Termination (PUT) leases, give your customer the benefits of ownership, which include the ability to take advantage of H.R. 5140 for qualified equipment. The actual cost of equipment, when tax savings are taken into consideration, is extremely attractive. Take a look:
Example: Financed equipment that is put in use in 2009. Under the economic stimulus act, assuming a 35% tax bracket, net savings on the equipment would be:
Equipment cost: $85,000 1st Year Write Off: $85,000 ($250,000 is maximum write-off)
2009 50% Bonus Depreciation $0.000
Normal 1st Year MACRS Depreciation: $0.00 Total 1st Year Tax Deduction: $85,000
Tax Savings Assuming Rate of 35% $29,750 2009 Savings / Lowered Equipment Cost $55,250
Do the Math Click Here and Discover the Benefits with this Tax Calculator
Please contact your tax advisor to determine the specific impact to your business. The tax savings examples above are for discussion purposes only and do not constitute tax or legal advice. For more information or updates on the tax code, please visit www.irs.gov or contact the IRS helpline at: 800-829-4933.
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