This refers to a section of the Internal Revenue Code that permits taxpayers to expense (write off in one year) up to $125,000 (adjusted for inflation annually) of business equipment expenditures that would normally have to be depreciated over their useful lives. The $125,000 allowance is gradually reduced for businesses that place into service more than $500,000 (adjusted for inflation annually) of business equipment during the year. However, for 2008 and 2009, as part of the Economic Stimulus legislation, the limit was raised to $250,000 and the phase-out threshold raised to $800,000.
- Street Address
1050 Forrest Ave.
Gadsden, AL 35901
Get Map and Directions
Mailing Address
P. O. Box 1070
Gadsden, AL 35902
Phone:
(256) 547-2588
Fax:
(256) 543-2950
E-mail:
accountant@hhscpa.com 
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Important Dates
Personal Finance
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