New Tax Benefit Aimed at Car Leasing
by admin on 12-27-2010 • Tags: Caldwell Leasing, depreciation bonus, Fleet leasing, tax relief, vehicle leasing
Great news for those of you that recently leased a vehicle or leased a fleet of vehicles for your business or, are considering a lease option sometime next year.
On December 17, 2010 legislation was signed that extends and expands the depreciation bonus through 2012.
What does this mean to you? The tax relief provides 100% depreciation bonus for capital investments (that means the portion of your lease vehicle used for business) placed in service after September 8, 2010 through December 31, 2011. The bill will extend on through December 31, 2012 providing a 50% depreciation bonus.
The depreciation bonus helps businesses cut their taxes when they buy or lease new equipment (vehicles) for their business needs. This option will provide a tremendous short term (2 to 3 years) tax planning tool.
If you are interested in learning more, your leasing company will have the information you need to take advantage of this benefit and get you in the vehicle or fleet of vehicles necessary to move your business forward.