New Tax Advantages for Security Equipment

The Public Safety and Protection Investment Act of 2003 - H.R. 1259 amends the Internal Revenue Code to allow tax payers to expense the full cost of qualified security devices. Prior treatment for this equipment was to charge capital accounts and depreciate the cost over several years. Tax payers can now recover the entire cost for qualified security devices on their tax returns for the year in which the equipment is installed in buildings located in the United States that is either owned or occupied by tax payers.

Please consult a qualified tax advisor for further details.