Installation of Wind and/or Solar Equipment Eligible for Bonus Depreciation Must be Installed by December 31st! Call Kuma Energy Today!

Rapid Depreciation for Solar & Wind Ends December 31st! The federal Economic Stimulus Act of 2008, enacted in February 2008, included a 50% bonus depreciation provision for eligible renewable-energy systems acquired and placed in service in 2008. This provision was extended, retroactively to the entire 2009 tax year, under the same terms by The American Recovery and Reinvestment Act of 2009, enacted in February 2009. To qualify for bonus depreciation, a project must satisfy these criteria: the property must have a recovery period of 20 years or less under normal federal tax depreciation rules;   the original use of the property must commence with the taxpayer claiming the deduction;   the property generally must have been acquired during 2008 or 2009; and   the property must have been placed in service during 2008 or 2009 If property meets these requirements, the owner is entitled to deduct 50% of the adjusted basis of the property in 2008 and 2009. The remaining 50% of the adjusted basis of the property is depreciated over the following 4 years. The bonus depreciation rules do not override the depreciation limit applicable to projects qualifying for the federal business energy tax credit. Before calculating depreciation for such a project, including any bonus depreciation, the adjusted basis of the project must be reduced by one-half of the amount of the energy credit for which the project qualifies. http://dsireusa.org/incentives/incentive.cfm?Incentive_Code=US06F&re=1&ee=1