In 2012, the law allows 50 percent first-year bonus depreciation for qualifying new assets that have a tax life of 20 years or less. The “placed-in-service” deadline is Dec. 31, 2012.

On Dec. 17, 2010, President Barack Obama signed The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (2010 Tax Relief Act) in an effort to stimulate the economy.