first-year depreciation

first-year depreciation

See additional first-year depreciation.

References in periodicals archive ?
The aggregate amount of depreciation that would be allowable for eligible qualified property if the 50% additional first-year depreciation did not apply to all such property.
The 2002 Act introduces an additional 30% first-year depreciation deduction [IRC section 167(k)] on certain real and personal property placed in service after September 10, 2001, if acquired or contracted for after September 10, 2001.
168(k)(1) otherwise would yield additional first-year depreciation totaling $150 million (20% of $150 million = $30 million).
Increased first-year depreciation deductions (2001 tax year; tax forms were not yet available when this article was written)
168(k)(4) allows corporations to elect out of claiming the 50% additional first-year depreciation for new property acquired after Match 31, 2008, and placed in service before January 1, 2009.
Where the midquarter convention applies, taxpayers are allowed considerably less first-year depreciation for assets purchased in the fourth quarter of the tax year.
These provisions include bonus 50% first-year depreciation and AMT depreciation relief (Sec.
An additional first-year depreciation deduction equal to 50% of adjusted basis is allowed for qualifying property placed in service after December 31, 2007, and before January 1, 2009.
Finally, the Act increases the bonus first-year depreciation provision under Sec.
Notice 2007-36 contains guidance on the extended placed-in-service dates for the 50% additional first-year depreciation available for certain Gulf Opportunity (GO) Zone property and provides additional rules on the "original use" requirement.
One such incentive is the 50% bonus first-year depreciation allowance for property placed in service in a GO Zone after Aug.
4) Additional first-year depreciation was provided by the Jobs and Growth Tax Relief Reconciliation Act of 2003.