Are there any Laws concerning deductions I can get for having a Security System?

Are there any Laws concerning deductions I can get for having a Security System?brand new

The following is a summary of the benefits of this new law that will make it easier for companies to take a tax deduction for the purchase of security equipment. On Saturday, March 09, 2002, President Bush signed H.R. 3090, the "Job Creation and Worker Assistance Act of 2002." The Act includes a 30% bonus depreciation provision that will make the purchase of alarm and security equipment more attractive. The signed legislation will allow businesses that purchase equipment (including alarm/security systems) to take an accelerated depreciation write-off. Under the provision, businesses would be allowed to write-off an additional 30% of the adjusted basis in the year the equipment is purchased. Normally, businesses purchasing 20-year or less life equipment, depreciate that equipment under the 200% (alarm/security equipment) or 150% declining balance method. Under the provisions of the Job Creation and Workers Assistance Act of 2002, a bonus amount of 30% of the cost can be taken in the first year. The remaining adjusted basis in the property would be depreciated starting in the year in which the item is purchased. Generally, alarm/security equipment is depreciated over 5 years utilizing the 200% declining balance method. To qualify, the equipment must be purchased between September 11, 2001 and before September 11, 2004, and it must be placed in service before January 1, 2005. Any equipment purchased under the bonus depreciation rules would not be included for the purpose of calculating the alternative minimum tax. The 30% bonus depreciation rule may be utilized on the equipment that an alarm company purchases and leases to their customers. Of course, you should always speak with an expert concerning all tax matters, SpyTown provides this data for informational purposes only and cannot guarantee the deductibility of any product purchase.

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Protecting your home or business is a must. Security surveillance systems work to keep an eye on what matters most to you, and ensure your family and business investment is safe. In the event there is a break-in, our security camera systems will help identify the intruder and return your valuables back to the rightful owner: you! Imagine the peace of mind you will have knowing that video security systems are carefully watching over your possessions at all times. We have been online since 1999, and we have heard from so many of our loyal customers just how security surveillance systems protected their home and business from the prying hands of intruders. We are not only security camera systems suppliers, but we are experts in the industry. Do not hesitate to call us at 866.SPY.TOWN with any and all questions you have on choosing the ideal video security systems for your needs.
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