August 2011 Newsletter – Tax Savings
gagereport4
Want to get the Gage Report in your e-mail? Click here.
Let Uncle Sam Help Buy Your New Equipment
Take advantage of the new Bonus Depreciation and Save up to 35% on all New Equipment Purchases in 2011!
tax-jss-newsletter BUT Time is Running out…
You must purchase and place in service items before year’s end.
Contact us today to discuss how you can take advantage of these savings
before it’s too late!
To ensure delivery by the year’s end,please place orders with Gagemaker
by November 15, 2011*
Purchase Inspection Equipment in 2011 to take advantage of 100% Bonus Depreciation
Congress used the 2010 Tax Relief Act to double and extend Bonus Depreciation from 50% to 100% for new equipment acquired and placed in service this year. Two sections of the current 2010 Tax Relief Act added incentives for companies to invest in new equipment to improve their manufacturing processes.
The Bonus Depreciation section allows businesses to use first year bonus depreciation of 100% on new capital equipment purchased before December 31, 2011 and put into service before January 1, 2012. In essence this calculates out to the cost of the equipment being reduced by more than one-third.
Section 179 increased previous limits and allows businesses to write off up to $500,000 of qualified capital expenditures up to $2 million. Software is eligible for expensing under Section 179.
R&D Incentive tax write-offs for labor assigned to new process improvement projects during the first year of their implementation can also be deducted. This includes direct labor as well as a percentage of management time.
Be forewarned: waiting another year will reduce these savings by 50%!
More information is available at www.depreciationbonus.org. Also, please be sure to consult with your tax professional to take full advantage of this program.
Contact Us Today to Place Your Order and Don’t Chance Missing the Deadline!
*Specials & customs may require ordering sooner, please contact us for more details.
Related Articles:
Why Risk Performance? Efficient Gaging
Gage Tips
Gagemaker White Paper
Subscribe to the Gage Report. Click here.
Gagemaker, LP develops and manufactures innovative precision mechanical inspection equipment for the Oilfield, Automotive and General Machining industries. Recognized as the leading provider of Tapered & Straight Thread Measurement Gages; API Products, Tubing and Casing Gages, Engineering Software and Calibration Software & Equipment, Gagemaker products are used in countless facilities around the world.