The Gulf Opportunity Zone Act established a 50% bonus depreciation allowance as a tax incentive to rebuild the economies devastated by hurricanes Katrina and Rita.
To qualify for the bonus depreciation, the property must be listed within the GO Zone, new, acquired after Aug. 27, 2005, and placed in service before Dec. 31, 2008.The 50% bonus depreciation method must be selected before any other depreciation deductions have been made.
This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. 50% GO Zone Bonus Depreciation | Property Depreciation Tax Deductions is brought to you by SimplifyEm Pay Rent Online and Property Management Software
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