[ihatestudying]

is bonuse depreciation 100% of remaining after taking 179 for 2011 and 50% for 2012?

so for 2011 if purchased 600,000 equipment, 500,000 179 and the remaining 100,000 for bonus depreciation??

and for 2012, 500,000 179, and 50,000 bonus depreciation with the remaining 50,000 MACRS deduction?

im confused..thanks in advance

AUD - 2/27/12 - 76
REG - 5/31/12 - 78
BEC - 8/31/12 - 77
FAR - 12/6/12 - 76

[ihatestudying]

anyone? im in panic mode and getting confused by explanations in text

AUD - 2/27/12 - 76
REG - 5/31/12 - 78
BEC - 8/31/12 - 77
FAR - 12/6/12 - 76

[nolifecpa]

i think you are correct, this is what i found

Now 100%: This provision of the Tax Relief Act passed late last year doubles the amount of bonus depreciation allowed – from half of the purchase cost, to the full amount (100 percent) for this year. That’s up from 30 percent a few years ago. In other words, if you buy some PCs, servers, phone equipment, machinery, or all kinds of other qualifying items, you can take the entire amount as a deduction on your 2011 tax return.

The temporary rule change also makes 50 percent bonus depreciation available for qualified property placed in service during 2012. Some long-lived property and transportation property is eligible for 100 percent expensing if placed in service by the end of 2012. What’s more, there is no cap on the amount you can spend and deduct, and the benefit applies to businesses of any size.

Where Section 179 Fits: Other benefits available only to small businesses fall under different provisions known as the Section 179 rules. The maximum amount of property that small businesses could deduct immediately under Section 179 was scheduled to revert to its old limit of $25,000, but that’s now been raised to $500,000.

REG-65,71,74,73,70,74,79
BEC-60's,60's,69,71,76*,78
FAR-67,66,65,79
AUD-54,60's,65,83*,69,80
*expired

DONE

[ihatestudying]

thanks for the response! im panicking here…havent had enough time to study for reg due to the busy season and everything….i dont feel ready..

AUD - 2/27/12 - 76
REG - 5/31/12 - 78
BEC - 8/31/12 - 77
FAR - 12/6/12 - 76

[Anonymous]

I'm pretty sure the test will only test you on the prior year tax law. So if you're taking REG in 2012, it's only necessary to know the 2011 law since stuff is always changing.

Can someone correct me if I'm wrong? It wouldn't be the first time and most certainly won't be the last.

[Author]

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