Increased Deductions Through Depreciation

The ability to write off the cost of assets versus having to depreciate them over time just got better.

 New Immediate Write Off Limits Are as Follows:

  •  2010 and 2011– you are allowed to write off $500,000 if you do not purchase new assets in total of more than $2 million

 

  • 2012 – the amount is decreasing this year to $125,000 available write-off with an new asset limit of $500,000

 

  • 2012 – the amount is decreasing this year to only $25,000 available write-off with an new asset limit of $200,000

 

  • You cannot take Idaho investment tax credit on these assets

 

  • The property can be new property or used property as long as it is new to you

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