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Manufacturing Information Solutions Your Place for Support and Discussions
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dawn Master Poster
Joined: 26 Jun 2004 Posts: 311 Location: Mishawaka, IN
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Posted: Wed Aug 12, 2009 11:24 am Post subject: Time to buy Capital Equipment 2009 |
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This is HUGE, for anyone considering a capital purchase of New equipment; NOW IS THE TIME TO BUY, Check this out!!
Section 179 (Tax Code) has changed, Now you can depreciate up to $250,000.00 in one year; and; now here is the Really GREAT NEWS!!!!
Now, you may say " I didn't make any profit in 2009, so this NEW program won't help me." WRONG"
With this New Revision as of Feb. 17, 2009 You can go back 5 Years and Pick any year that you didn't make a Profit, and depreciate this New purchase of capital Equipment.
This is a No Brainer, and this does Not extend into 2010, equipment Must be purchased and Installed in 2009. |
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mistux Site Admin
Joined: 25 Jun 2004 Posts: 1042 Location: South Bend, Indiana USA
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Posted: Wed Aug 12, 2009 11:27 am Post subject: |
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Here is an example of this:
Code: | American Recovery and Reinvestment Tax Act of 2009
(Enacted on Feb. 17, 2009)
Eaxample: Most Equipment is leased with a $1.00 Purchase Option. Using the NEW 2009 Stimulus Bill and assuming a 35% tax Bracket, your net Savings on the equipment would be:
Equipment Cost= $550,000.00
1st Year Write Off: Section 179 $250,000.00
($250,000.00 is Maximum Write Off)
If Machinery is Less Than $250,000, The Entire Investment is the Total 1st Year Deduction
50% Bonus Depreciation $150,000.00
($550,000 - $250,000=$300,000 x 50%)
Standard Depreciation $21,435.00
($550,000 - $250,000 - $150,000 = $150,000 x 14.29%)
Total 1st Year Deduction $421,435.00
($250,000 + $150,000 + $21,435)
Tax Savings Assuming Rate of 35% $147,502.25
($421,435 x 35%)
1st Year Bottom Line Cost $402,497.75
($550,000 - $147,502.25) |
NEW: Net Operating Losses for 2009 Can Now Be Carried Back Five Years and Recieve Income Tax Refunds From Prior Years
* Depreciation calculated at regular 7 year schedule
* Check with Accountant to see how this Bill directly effects your company
* Must be delivered and Installed in 2009 |
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