Friday, September 17, 2004

Bonus-first-year depreciation, which was designed to act as an economic stimulus in the wake of the 9/11 terrorist attacks, will end on Dec. 31, 2004 for most taxpayers (unless Congress acts to extend it, which appears to be unlikely). As a result, taxpayers have an additional incentive to accelerate purchases of new depreciable assets into 2004 if their goal is to maximize deductions this year. This Practice Alert takes a detailed look at the closing window of opportunity to claim bonus first year depreciation, and how to make the most of it in year-end tax planning. 4:27:06 PM