last chance for bonus depreciation?
Remember that some of the recent tax law changes have short effective dates because they are economic stimulus provisions. For example, 50% bonus depreciation is scheduled to expire on December 31, 2004. There are some advantages of bonus depreciation compared to the expense election. For example, trusts qualify to claim bonus depreciation but not the expense election. Also, there are no limits for the total amount of bonus depreciation that can be claimed. Remember, only new assets qualify for bonus depreciation. Also remember California and most other states do not allow a deduction for the federal bonus depreciation amount. 6:16:29 PM A number of readers have asked about this. Just a different name for the same thing? Far from it. If you and another party–your spouse, child, relative, friend, business partner, etc. want to co-own property, both forms can be used. But the legal consequences are very different. If you and a friend own property as joint tenants, the property automatic
