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AMERICAN RECOVERY AND REINVESTMENT ACT OF 2009
Section 179 allows businesses to fully expense up to $250,000 of new equipment acquisitions in 2009. And first year depreciation bonus boosted to 50%
Take Advantage of the Stimulus Package
The U.S. Congress passed a $787 billion economic stimulus package on F ebruary 13, 2009, and President Obama signed the bill into law on February 17th. The American Recovery and Reinvestment Act of 2009 contains tax incentives for businesses to invest in new equipment and machinery.
Example: If a business were to purchase $750,000 in new equipment, they can fully expense $250,000 and then take 50% of the balance (50% of $500,000 or $250,000) plus the first years MACRS (14% of $250,000 or $35,000) which adds up to $535,000 or 71.33% of the purchase price. The balance of the $200,000 would be depreciated normally on the seven-year schedule.
Our heatsealing machines qualify for the stimulus package. Following recent announcement of American Packaging's insolvency, we have been actively searching for another leasing company to handle machine leases for Novaseal. So, if you would like to lease new machinery, contact us for more information by calling for Glenn Lippman at (561) 470-3267.
The Modified Accelerated Cost Recovery System (MACRS) is the current method of accelerated asset depreciation required by the United States income tax code. Under MACRS, all assets are divided into classes which dictate the number of years over which an asset's cost will be recovered.
Novaseal Corporation - 1000 NW 1st Avenue, Bay 18 - Boca Raton, FL 33432 USA
Tel: 561-470-3267 - Fax: 561-447-2925 - www.novaseal.com
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