Economic Stimulus Act of 2008

International Cold Storage div. of Carrier Commercial Refrigeration, Inc. would like to draw your attention to two important provisions from the Economic Stimulus Act of 2008 which may be beneficial to you. Please check with your tax advisor to understand the applicability and the positive impact you may receive in your 2008 tax bill.

Special 50% depreciation allowance for 2008 equipment purchases

• Often referred to as “bonus depreciation”
• Depreciate 50% of qualified equipment purchases this year to cut your tax bill for 2008
• Equipment must be placed in service after Dec 31, 2007 and before Jan 1, 2009
• This special depreciation expires on 12/31/2008
• For additional information and applicability to your business, please visit www.irs.gov or contact your tax advisor

Increase in Section 179 expensing limitation for tax years beginning in 2008

• Limit increased from $128,000
• Expense up to $250,000 of equipment costs in 2008 if your total capital expenditures are up to $800,000 in 2008
• If your total capital expenditures are over $800,000 in 2008, then the deduction amount will be reduced
• Equipment must be placed in service in 2008
• This new section 179 expensing limit expires on 12/31/2008.
• For additional information and applicability to your business, please visit www.irs.gov or contact your tax advisor

Please note that this flyer is provided for informational purposes only and does not constitute legal, accounting, or tax advice.  It is based on information believed to be reliable but no representation of its accuracy is made by International Cold Storage div. of Carrier Commercial Refrigeration, Inc.  For more information, contact your tax advisor.