On Sept. 27, President Obama signed the Small Business Jobs Act (H.R. 5297) into law, reinstating the 50% depreciation bonus for 2010 (retroactive to the beginning of the year) and increasing Sec. 179 expensing levels to $500,000 (and the phase-out threshold amount to $2 million) for 2010 and 2011.
The act reinstated the 50% depreciation, designed to help businesses that cut their tax bill buy new equipment. This applies, among other things, to purchases of tangible personal property (including construction, mining, forestry and agricultural equipment) with a MACRS recovery period of 20 years or less.
In order to qualify, the following criteria must be met:
Equipment must have been purchased and placed in service in 2010.
Applies to new equipment only.
Allowed for both regular and alternative minimum tax purposes.
Discretionary - Taxpayer need not claim the depreciation bonus.
Depreciation Bonus will expire at the end of 2010.
The original draft from IRS is as follows:
Bonus Depreciation and Increased Section 179 Deduction under the American Recovery and Reinvestment Act
The American Recovery and Reinvestment Act (ARRA), enacted in February 2009, extended the bonus depreciation and increased the section 179 deduction. For many businesses, these two provisions are only available this year and, as a result, they only have a few months to take action and save on their taxes. Here is a quick rundown of these provisions.
Many small businesses that invest in new property and equipment will be able to write off most or all of these purchases on their 2009 returns. The new law extends through 2009 the special 50 percent depreciation allowance, also known as bonus depreciation, and increased limits on the section 179 deduction, named for the relevant section of the Internal Revenue Code. Normally, businesses recover these capital investments through annual depreciation deductions spread over several years. Bo...
Agricultural Equipment Beaverton OR
Agricultural Equipment in Beaverton, OR. Local businesses and services around Beaverton. Find Agricultural Equipment in your area.
1st Independent Leasing, Inc.(503) 626-3486
3800 SW Cedar Hills Blvd.
Lovett Excavation(503) 442-8611
5100 SE Harney
Northwest Pipe Company(800) 824-9824
12005 N. Burgard
Transmission Exchange Co.(503) 284-0768
1803 N.E. MLK Jr. Blvd
Cessco, Inc.(503) 288-1242
4222 N.E. Columbia Blvd
HemCon Medical Technologies, Inc.(503) 245-0459
10575 SW Cascade Ave
National Builders Hardware Co.(503) 233-5381
P.O. Box 14609
Airefco, Inc.(503) 692-3210
P.O. Box 1349
United Pipe & Supply Company, Inc.(503) 788-8813
7600 SE Johnson Creek Blvd
Hooker Creek(541) 389-0981
95 SW Scalehouse Loop
La Pine, OR
La Pine, OR
Still time to save money on truck purchases
Waytek releases truck cables for increased functionality
According to Waytek, OEMs and truck modifiers continue to add complex, additional functions to on- and off-road vehicles. The company said its CAN-BUS Data Cable reduces wiring and electronic interference, as well as offering high-speed network communication. The product can be used in light- and heavy-duty vehicles, as well as appropriate stationary applications that use vehicle derived components (e.g., generator sets), on/off-highway trucks, trailers, buses, RVs, fire engines, construction equipment and agricultural equipment.
This newly available cable, designed to the SAE J1939-15 unshielded and SAE J1939-11 shielded specification, utilizes proprietary materials that are specifically designed for exceptional electrical performance. The company said the product features 18-20 AWG construction, is abrasion and cut resistant, waterproof, and has a 125˚C rated TPC jacket with excellent oil and chemical resistance.
Northwest Machine Tool Expo
Dates: 5/5/2009 – 5/8/2020
777 NE Martin Luther King, Jr. Blvd. Portland
The Machine Tool Expos are the premier regional events for the machine tool, industrial,and manufacturing industries. They feature comprehensive conference programs discussing timely issues and exhibit halls packed with the latest products, services, and technology. The Machine Tool Expos will connect you with suppliers and help you find the solutions you need to reduce your operating expenses and increase your efficiency.