Filed under: EWS | Tags: demountable walls, environmental, movable walls, sustainable, wall, walls
Environmental Wall Systems walls just got even less expensive with the extension of the ever-popular Bonus Depreciation. As soon as President Obama signs the bill, (expected any day now), the 50% Bonus Depreciation will be extended to include all qualifying assets, (movable walls), purchased in 2010. Here is the overview:
Extended additional first year depreciation: In the provision bonus depreciation has been reinstated for all of calendar year 2010 for property placed in service after 12/31/09 but before January 1, 2011. As you may be aware the rule allows you to claim 50% of the qualifying assets cost as depreciation in the year it’s placed in service. The remainder of the assets cost after the application of the 50% deduction is subject to normal MACRS depreciation. The rules remain unchanged when compared with prior years regarding the first year 50% provision, new qualifying personal property, etc.
Ex. If you made a movable wall purchase of $100,000 in 2010 the value you would claim come tax time would be $50,000, (plus standard depreciation); thus lowering the amount of taxes you owe by a considerable margin.
This does not apply to drywall or fixed construction, giving another gold star in the demountable / movable walls column. The sustainable value of movable walls is greater now than ever as they are now sustainable on your future tax liability. Couple that with the fact that they are movable and that EWS walls are made of the highest content of recycled materials in the industry and you’ve done a darn good deed to society.
A tip of the hat goes to Uncle Sam and Mr. Obama, (who I forgot to mention is one of my contacts on linkedIn), for helping earn another stride to movable walls in the interior wall race. For more information please contact me at the number below and feel free to ask your accountant for more details.
-Adam Burg | blokeburg@yahoo.com
“Its amazing what HUGE impacts even the smallest changes can have. Please Recycle”.
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