End of Year Tax Planning: Taking Advantage of Expiring Tax Incentives

Butler Snow LLP
Contact

With year end quickly approaching, taxpayers should be aware of expiring federal income tax incentives. This summary highlights several of these tax incentives that expire at the end of this year and ways in which taxpayers can utilize them before they disappear.

Bonus Depreciation

For property placed in service during 2008 and 2009, taxpayers were entitled to additional first-year depreciation on qualified property equal to 50% of the adjusted basis of such property. Qualified property is defined to include the following i) property to which MACRS applies and has a recovery period of 20 years or less; ii) computer software (not covered by Code Section 197); iii) water utility property; or iv) qualified leasehold property....

Please see full publication below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Butler Snow LLP
Contact
more
less

Butler Snow LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide