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Well, although I haven't read it myself at the moment, the new tax law that the President is about to sign into law includes a provision that allows 50% bonus depreciation.
I know of no change in the Section 179 limits for 2013, but let me recheck now.
2013 IRC 179 is 25,000.
I will wait for your feedback. Thank you.
Bonus is a 50% & begins to phase out with acquisitions over $200,000.
Re above the 179 begins to phase out with acquisitions over 200K not the bonus depreciation
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Update: Those 179 limits were based upon existing law prior to enactment of the "American Taxpayer Relief Act" (aka New Tax Law just passed by Congress awaiting Presidential Signature) - The 179 limits for 2012 have been extended to 2013, so there is a $500,000. limit with the phase-out beginning at total acquisitions of $2,000,000. That is the final version that the President said he will sign.
And as stated the bonus depreciation of 50% has also been extended.
What is the maximum Section 179 deduction for 2013?
I thought the 2012 179 limits were that a taxpayer could expense up to 139,000 with a purchase limit up to 560,000?
I thought the 2012 '179' limits were that a taxpayer could expense up to 139,000 on purchases of up to 560,000 & there was 50% bonus depreciation with no limits? Are you saying that 500,000 can be expensed under Section 179 for 2013 & the 50% bonus depreciation begins to phase out with purchases over 200,000?
The law on 179 is as stated. $500,000. with purchase limit of $2,000,000. These limits pertain to both 2012 to 2013.
The 179 pertains to both new & used equipment.
The bonus depreciation for both 2012 & 2013 is 50%, and applies to new equipment having a MACRS recovery period of 20 years or less.
The limits you quote do not apply to either 2012 or 2013.
There is no investment limitation for the bonus depreciation.