GO Zone 50% Bonus Depreciation

Posted by Tax Tip on October 30, 2008, 9:56 am

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The Gulf Opportunity Zone Act established a 50% bonus depreciation
allowance as a tax incentive to rebuild the economies devastated by
hurricanes Katrina and Rita.

To qualify for the bonus depreciation, the property must be listed
within the GO Zone, new, acquired after Aug. 27, 2005, and placed in
service before Dec. 31, 2008.The 50% bonus depreciation method must be
selected before any other depreciation deductions have been made.

To learn more about Depreciation and how it affects your properties,
take a look at RealTaxTips.com. It=92s a forum for real estate investors
to learn how others are saving money on their real estate investments,
and it=92s an easy way to get prepared for taxes.

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