Expensing Limitation for 2010by Lee Reams in Q&A E-mail Questions
A – Congress as part of the “Hire Act” extended the expensing amount to $250,000 for 2010 (same as it was in 2008 and 2009). The maximum deductible expense is reduced (i.e., phased out, but not below zero) by the amount by which the cost of property placed in service during the tax year exceeds $800,000. Barring any additional legislation, the maximum amount will drop approximately to $134,000 in 2011.
You might also like...The following articles may be of interest:
Get the latest news...