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Bonus depreciation most commonly misunderstood benefit.

Publication: Mississippi Business Journal
Publication Date: 26-MAR-07
Format: Online
Delivery: Immediate Online Access

Article Excerpt
As with any piece of complex legislation, there are misconceptions about the Gulf Opportunity Zone Act. Attorneys, bankers, accountants and others familiar with the act have encountered common misconceptions. The main one is confusion about the bonus depreciation benefit.

"One area has been the use of GO Zone depreciation for passive activities. The bonus depreciation allowed will not change the nature of the loss to the investor," says Melanie Woodrick, a CPA with the GranthamPoole accounting firm. "Therefore, some investors may have large losses which they...

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