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Decduct 50% of equipment this year on taxes!!!

Discussion in 'Business Operations' started by HydroGearHead, Jan 25, 2008.

  1. HydroGearHead

    HydroGearHead LawnSite Member
    from florida
    Posts: 89

    Well whatever you think about Bush he is pushing for us to be able to deduct 50% of our new equipment purchases this year on our taxes so I say hey that's great!!!
  2. Grits

    Grits LawnSite Silver Member
    from Florida
    Posts: 2,994

    That's great!!!! Will that be just for this years purchases or last years for the taxes we are doing now?
  3. KS_Grasscutter

    KS_Grasscutter LawnSite Gold Member
    Posts: 3,332

    Hmmm....guess this year would be a good year for me to upgrade lots of equipment...
  4. roguesuerte

    roguesuerte LawnSite Member
    Posts: 105

    The sky is falling. Mark my words.
  5. Da/man

    Da/man LawnSite Member
    Posts: 12

    I guess that means since I am just starting out I can buy the supernice equip. rather then the cheap nice stuff..
  6. mowwmann

    mowwmann LawnSite Member
    from Midwest
    Posts: 23

    does anyone know if there are any limits on the type and such...i know last time vehicles had to be a certain weight...looking at getting a new vehicle for advertising and the weight will determine...thanks in advance
  7. Frue

    Frue LawnSite Bronze Member
    Posts: 1,472

    Please remember last time we had a slow down those rebates worked and we had a nice run of a good economy.
  8. touhey33

    touhey33 LawnSite Senior Member
    Posts: 771

    As far as I know you can deduct 100% of your equipment up to something like 100,000. You can do this rather than depreciate your equipment, I thinks its section 179.
  9. Lugnut

    Lugnut LawnSite Senior Member
    Posts: 551

    This would be great if it passes. I'll do my part to help the economy and get a 36" Bobcat too in addition to my new 48"
  10. wooley99

    wooley99 LawnSite Senior Member
    Posts: 269

    Perfect. Bought all new everything last year;) Maybe I'll use my family rebate to make payments on it:hammerhead:

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