State Treatment of Federal Bonus Depreciation and Increased 179 Expensing Amounts for 2012

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Source: Copyright © 2012 Thomson Reuters/Practitioners Publishing Company.

The Tax Relief Act of 2010 extended the temporary 50% first-year bonus depreciation to qualifying assets acquired during 2012 and increased the maximum 179 deduction for tax years beginning in 2012 to $125,000 ($139,000 adjusted for inflation). Without this change, it would have been only $25,000. So, for 2012, subject to certain rules and limitations, businesses can expense up to $139,000 of qualifying assets and then claim 50% first-year bonus depreciation and regular depreciation on the remaining cost. State Treatment of Federal Bonus Depreciation and Increased 179 Expensing Amounts for 2012


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Keiter CPAs is a certified public accounting firm serving the audittax, accounting and consulting needs of businesses and their owners located in Richmond and across Virginia. We focus on serving emerging growth businesses and companies in the financial servicesconstructionreal estatemanufacturingretail & distribution industries and nonprofits. We also provide business valuations and forensic accounting servicesfamily office services, and inbound international services.

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