Possible tax savings on capital equipment

I recently received this reminder from a leasing company we refer clients to:

Section 179 Economic Stimulus Package
The New Economic Stimulus Package has recently announced the tax benefits for businesses in 2009. You may already know that IRS Section #179 allows a corporation to fully expense tangible property in the year it is purchased. You can deduct up to $250,000.00 of equipment this year with an equipment finance agreement or a lease!

Example: Equipment Purchase of $300,000.00
1st Year Write Off.............................$250,000.00
($250,000 is the max Section 179 write off in 2009)

50% Bonus Depreciation.................... $25,000.00
(remaining value: $300,000-$250,000 = $25,000)
Normal 1st Year Depreciation................$5,000.00
(Calculated at 5 yrs= 20%: $25,000 x .20= $5,000)

Total 1st Year Deduction....................$280,000.00
($250,000 + $25,000 + $5,000 = $280,000.00)

1st Year Net Cost after Savings....... $202,000.00
($300,000- $98,000 = $202,000) Tax Savings Assuming Rate of 35%.......$98,000.00
($280,000 x .35 = $98,000)

As with all such information you should rely only on your personal accountant or tax advisors advice. We have not indepently verified the details. However if you have purchased games, attractions or other capital equipment this year, or are planning to, you should look into the tax benefits.