bonus depreciation

As per federal laws, US taxpayers are allowed to claim 50% of the basis of an asset during the year it was put into service. The remaining 50% of the asset's basis may be then claimed for the regular depreciation amount. The law pertains to assets put in service after December 31, 2007 and before January 1, 2011 for the majority of property. For certain property with lengthier production periods, taxpayers have until before January 1, 2012.