First-year expensing limit increases for 2008

For purchases of equipment placed in service in 2008, the first-year expensing limit is increased to $250,000. The $250,000 limit is reduced for total purchases exceeding $800,000; the expensing deduction is completely phased out once total purchases exceed $1,050,000. The $25,000 expensing limit applicable to heavy sports utility vehicles remains unchanged.