2012 Critical Year for Tax Policy

* Qualifying property continues to include depreciable tangible personal property purchased for use in the active conduct of a trade or business including, printing, publishing and converting equipment, as well as off-the-shelf computer software.

• IRC Section 179 expensing (set at $500,000/year with a phase-out starting at $2 million/year for tax years beginning in 2010 and 2011) continues through tax years beginning in 2012, but at the lower level of $125,000/year with a $500,000 phase-out.