first-year depreciation

first-year depreciation

See additional first-year depreciation.

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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.
Electing to accelerate AMT and research credits in lieu of bonus depreciation
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.
States decouple depreciation and NOL carrybacks from new federal law. (Federal Taxation)
168(k)(1) otherwise would yield additional first-year depreciation totaling $150 million (20% of $150 million = $30 million).
Sec. 168(k)(4) credit in lieu of bonus depreciation
Increased first-year depreciation deductions (2001 tax year; tax forms were not yet available when this article was written)
The Job Creation and Worker Assistance Act of 2002
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.
IRS issues guidance on electing out of 50% additional first-year depreciation
Where the midquarter convention applies, taxpayers are allowed considerably less first-year depreciation for assets purchased in the fourth quarter of the tax year.
Expensing Election Under Section 179 Section 179
These provisions include bonus 50% first-year depreciation and AMT depreciation relief (Sec.
Farm bill enacted over president's veto
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.
The Economic Stimulus Act of 2008
Finally, the Act increases the bonus first-year depreciation provision under Sec.
President signs stimulus tax legislation
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.
GO Zone depreciation
One such incentive is the 50% bonus first-year depreciation allowance for property placed in service in a GO Zone after Aug.
GO Zone Act provisions for hurricane victims
4) Additional first-year depreciation was provided by the Jobs and Growth Tax Relief Reconciliation Act of 2003.
State action on the domestic production activities deduction

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