Thinking about investing in new or used robotic equipment soon? Go for it! Now's the time to take advantage of newly expanded tax incentives for 2010 and 2011.
On September 27, 2010, Obama signed the Small Business Jobs Act into law. The provisions within this new law are designed to encourage business owners to improve and grow their businesses with equipment purchases. The hope is that stronger, less financially burdened companies will be free to create more jobs.
Take a closer look at how provisions within the Small Business Jobs Act can benefit your company.
New and Improved Section 179
Section 179 applies to both new and used equipment purchases ordered and put into service in 2010 and 2011. Thresholds for the Section 179 expensing provision have been increased by 100% under the new law. Previously, companies could write off the first $250,000 on purchases up to $800,000. Now, the first $500,000 spent on equipment can be expensed and the cap is increased to $2 million.
50% Bonus Depreciation
The 50% Bonus Depreciation only applies to new equipment purchases. It has been extended to the end of the 2010 tax year and can be combined with the Section 179 provision.
Have questions? Call RobotWorx Sales Department to find out more: 740-251-4312.