Text Box: Text Box: NEW WEST COAST WAREHOUSE - CLICK HERE!!Text Box: LINES PROUDLY REPRESENTED:Text Box: The Agency Quality Companies Turn To For Equipment AdviceMERIDIAN PACIFIC SALESText Box: Down Arrow Callout: critical tax incentive for purchasing equipment this year!!LINKS:Text Box: CURRENT INDUSTRY NEWS - CLICK HEREText Box: 2008 Stimulus Package provides relief for equipment buyers The economic stimulus package passed last week by the U.S. House and Senate and signed by President Bush provides enhanced expensing and depreciation relief for businesses buying equipment and placing it into service this year. A trade or business can depreciate an additional 50 percent of the cost of an asset acquired and placed into service in 2008. Eligible properties for bonus depreciation include (1) tangible property that had a recovery period not exceeding 20 years, (2) purchased computer software and (3) qualified leasehold improvement property. The economic stimulus package, which also includes tax rebates to individual taxpayers, is effective for calendar year 2008. This means that if a rental company establishes a five year depreciation schedule on a backhoe as an example, the company can take the 20% normal depreciation plus the additional 50% allowed in the stimulus package. The total depreciation this year would equal 70% rather than the normally allocated 20%.  Adobe Systems