Saturday November 21, 2009

smSmallBiz.com - SmartMoney's Small Business Site

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Bonus Depreciation for Sole Proprietors
In the case of a sole proprietorship, can the first-year 50% bonus depreciation still be taken if it puts the business into a net loss situation? Also, can the loss then be used to offset and reduce tax liability on other income? The Section 179 deduction typically seems to preclude this.
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