Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 06-18-2008, 03:39 PM
TaxGuru's Avatar
Tax Guru
 
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 2,413
Blog Entries: 3
What are the Favorable Business Incentives under Economic Stimulus Act of 2008

The Economic Stimulus Act of 2008 had a provision in the law that provided a very favorable incentive to businesses. The provision provided 2 major changes to the existing depreciation rules as shown below;

1. A 50% bonus deduction on new equipment that was purchased in 2008 that would normally be depreciated over several years.

2. The section 179 Deduction expense has been raised from $125,000 to $250,000 of eligible equipment purchased in 2008 and increases the threshold for reducing the deduction to $800,000. It applies to property purchased and placed in service in tax years beginning in 2008.

Clearly, both of these provisions will provide a positive stimulus to the investment activity and could result in a more robust economy.

__________________
Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
What would be deductible business expenses for my new retail business? frankietan Sole-Proprietorship 0 05-05-2008 07:30 PM
IRS issues a consumer alert regarding the Economic Stimulus Payment. TaxGuru For 2008 0 04-30-2008 05:38 PM
Economic Stimulus Payments Update News TaxGuru For 2008 0 04-30-2008 09:50 AM
Combat Pay Can Count toward Economic Stimulus Payment Eligibility TaxGuru For 2008 0 03-24-2008 06:34 PM
What is the latest estimate of 2008 Tax refunds from the Stimulus package? Allard General 1 01-24-2008 06:32 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.