Chances are, you've already collected – and possibly spent -- your personal economic stimulus payment. But did you know that the Economic Stimulus Act of 2008 also contains special bonus depreciation incentives for technology equipment, as well as other business-related property, purchased this year?

Q: How do the bonus depreciation incentives work?
A: Business owners are entitled to claim an additional 50-percent first-year depreciation on new hardware and software purchased in 2008. For hardware, 20 percent of the remaining basis may be claimed for a total of 60-percent depreciation in the first year. All new products must be put into service before the end of 2008 to qualify.

Q: What are the benefits for my customers?
A: In an uncertain economy, IT purchases are often the first thing companies put on the back burner as they try to mitigate costs. However, up-to-date technology is still necessary to run a business effectively and continue to grow. These incentives may help encourage your customers to purchase needed equipment they might otherwise try to do without.

Q: What are the benefits for me?
A: As a solution provider, you can use the incentives as a sales tool by proactively bringing them into sales discussions with your clients. Average small to midsize business owners may not be clear on how the incentives work, which gives you a great opportunity to help them understand the ROI they can gain by taking advantage of them. Plus, as a business owner yourself, you can claim bonus depreciation on technology investments you make for your own company.

Q: Where can I go for more information?
A: To learn more about the bonus depreciation incentives, go to www.irs.gov. Also, because every company's situation is different, be sure to refer your customers to their personal financial advisors regarding tax and investment decisions that affect their businesses.