Google Search returns quite a few results, but none from irs.gov in the top 20.

Search: depreciating business equipment 2008

We might be 6 days too early for the official IRS rules!

On capital equipment, my CPA elects to expense it 100%. It looks like for 2008, that election can occur if your purchases are up to $108,000.

http://www.groco.com/readingroom/sec...equipment.aspx

But your CPA would know best as applies to your state.