Tuesday, December 24, 2013

Year - end tax deductions for business equipment purchases

You can deduct up to $500,000 of business equipment that is purchased AND placed in service by the end of 2013.  Additionally, new equipment purchased is eligible for a  50% bonus depreciation deduction.  These increased deductions are set to expire at the end of 2013.  There will likely be an extension, however, the Federal government has not made any decisions regarding depreciation at this time.  Plan now to maximize this opportunity! 

Lisa Matuszny CPA
Hobe& Lucas
 4807 Rockside Road Suite 510
 Independence, Ohio 44131


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