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![]() Still Need a Reason to Go Digital This Year? Tax Legislation and Depreciation Bonus for 2013 Might Provide Your Answer
By Watchfire Signs
This opportunity could yield benefits for your business.
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Passed in January 2013, the American Taxpayer Relief Act of 2012 extended the Tax Relief Act of 2010, thereby reinstating the 50% depreciation bonus through 2013. The Act also reinstated the Sec. 179 expensing levels to $500,000 through 2013 with a graduated phase-out once qualified capital expenditures exceed $2 million in the 2013 tax year. This legislation can provide potential tax savings for your business. You can still act to take advantage of these tax savings. If you are considering a digital billboard purchase and installation before the end of this year, this white paper can help you understand how the decision to invest now can yield benefits for your business. Visit www.depreciationbonus.org for more information. Please be sure to consult with your tax professional.
Shedding Some Light on How You Can Use the Depreciation Bonus and Sec. 179 Increases
What exactly does the American Taxpayer Relief Act of 2012 mean for my business?
How does bonus depreciation work? Section 331, Extension and Modification of Bonus Depreciation, of the American Taxpayers Relief Act of 2012, extends the 50 percent depreciation deduction under Internal Revenue Code 168(k), allowing businesses to recover the cost of capital expenditures over time. This deduction, for 50% of the basis, applies to qualified property placed in service after December 31, 2012 and before January 1, 2014.
That sounds too good to be true. What's the catch?
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Does the sign have to be new?
How long do I have to take advantage of the depreciation bonus?
Do I have to use the depreciation bonus?
How did the American Taxpayer Relief Act of 2012 change the Sec. 179 expensing law?
Can Sec. 179 and the depreciation bonus be combined?
What else should I know about this legislation?
Watchfire Digital Outdoor developed this white paper as a public service to digital billboard buyers. It should not be construed as tax advice nor as a promise of potential tax savings or reduced tax liability. For more information about the depreciation bonus, please contact your tax professional or visit the Internal Revenue Service website at www.irs.gov.
* http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Bonus-Depreciation-and-Increased-Section-179-Deduction-under-the-American-Recoveryand-Reinvestment-Act
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