|Congress recently passed the Economic Stimulus Act of 2008 intended to fuel the United States economy through tax incentives aimed at encouraging businesses to increase investments in equipment, software, and other qualifying assets in 2008. |
Tax code changes under the Act allow businesses to write off up to $250,000 of qualifying Section 179 property in 2008. In addition, businesses will be able to deduct an additional 50% off the cost of certain investments with an expected life of 20 years or less.
With the return of bonus depreciation benefits, nearly double the Section 179 expensing limits, and increased investment limits, this year's Economic Stimulus Act is expected to encourage more businesses to accelerate capital investments into their 2008 budgets allowing them (and our economy!) to keep growing into the future. This document explains:
Tuesday, November 24, 2009
Posted by admin at 4:00 AM