On February 13, 2008, President Bush signed into law the “Economic Stimulus Act of 2008,” which interests us because it provides an incentive to small businesses. A business that purchases new equipment worth up to $800,000 may take an immediate deduction of up to $250,000. This would reduce the benefit of cost segregation, but only on new equipment placed in service in 2008. Many times taxpayers have a cost segregation study completed on an existing property. According to estate and tax attorney David Lukinovich of Lukinovich Law in Baton Rouge, Louisiana, “Property that already has been placed in service is not affected by this stimulus act.”
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