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Anne, Master Tax Preparer
Category: Tax
Satisfied Customers: 2343
Experience:  Enrolled Agent with 25 Years Experience specializing Individual and Small Businesses
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The Economic Stimulus Act of 2008 provides for 50% BONUS depreciation.

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The Economic Stimulus Act of 2008 provides for 50% BONUS depreciation. Using a $100,000 MACRS 5 year property not eligible for section 179 purchase in 2008 as an example, can you deduct $50,000 in the first year (100,000 X .5) or can you deduct $60,000 in the first year (100,000 X .5) + (50,000 X .2) or is there another answer? I'm assuming that the property is not eligible for section 179I've seen it shown both ways. Also, are there any bonus depreciation provisions that are included in the 700 Billion bailout package being voted on 10/3/08 by the house



Thank you for using justanswer. Your first year depreciation total based on the above information would be the $60,000 Please see below:


A depreciation calculator


Small Business Administration - Economic Stimulus Package


I've also given you a link re: the highlights of the 700 billion dollar proposed bail out


Bush Asking For $700 Billion Bailout


I hope this helps


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Customer: replied 7 years ago.
This is the first time that I've used this service and somehow did not realize that you had responded. I'm sorry that it took me so long to "accept" your answer. You did a fine job answering my first question. My second question was not answered but I realize that, short of reading through the several hundred pages of the bailout plan, it could have been very difficult to answer that.

Thanks for what you did answer.
Thank you for the opportunity to help.

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