New Gutter Machines

Expensing Deduction = Full Write Off for Gutter Machines!

For qualified assets placed in service in 2008, you may claim an extra 50% deduction in addition to normal depreciation and deductions available under the Internal Revenue Code's Section 179. The Section 179 "expensing" deduction allows a business to write off the full cost (rather than depreciating it over several years) of certain business assets, including machinery, vehicles, equipment, and computers, up to a certain dollar level. For 2008, the maximum deduction limit was increased to $250,000. Note that the asset must be "placed in service" in 2008: That means you need to order your gutter machine now to have it up and running in your shop prior to January 1st, 2009.

Buy now for delivery before January 1st, 2009!

"If you need a piece of equipment, make the purchase and get it working now," says Michael Hanley (CPA of Merl & Hanley in Smithtown, N.Y). "People looking to hit their sales quotas for the end of the year are definitely going to be offering some good deals."

Source: BusinessWeek; “Tips for Year End Tax Planning”, 11/21/2008