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Yippee for YEEPs! deductible year-end equipment purchases.

Article Excerpt
THE FOURTH QUARTER is when many publicly traded companies prop up their performance to show more favorable year-end results. The owners and operators of smaller, more closely held businesses, such as service centers, can also put a favorable spin on their results by taking advantage of the tax rules for year-end equipment acquisitions.

Whether you are thinking about tax savings or merely in the market for new machinery, the end of the year is a good time to consider acquiring that equipment. Most metals distributors will benefit from a full year's worth of write-offs with only a month or two of payments, limiting the actual cash outlay for that new equipment while, at the same time, generating significant tax deductions for the 2008 tax year.

By waiting until after Dec. 31 (for most of us using a calendar year), you will miss the current year's Section 179 deduction--a whopping write-off for up to $250,000 in newly acquired equipment. Plus, there is also a 50 percent bonus depreciation deduction available for the purchase of qualifying property.

Year-end tax savings

A year-end...

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