Last week's $168 billion stimulus bill signing did garner some good news for small businesses, witness the NY Times post by Mickey Meece. He notes that the bill gives two gifts to small businesses,
1) A bonus depreciation increase of 50% of the cost of a tangible asset for immediate expensing, (an overall tax savings estimated to cost the government close to $44 billion over the next two years); and
2) An increase in the amount allowed for Section 179 (movable assets) expensing to $250,000 for 2008, up from $128,000.
These inclusions will encourage investment in both fixed and movable assets. Limitations are in place for SUV's among other assets, so be sure to consult your accountant for particulars.
At the end of the day, this will induce increased spending where the spender is seeking to reduce their overall tax liability.
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2 comments:
Rob, We enjoyed reading your posts. We thank you for your expert analysis.
With public Pressure, there can be positive change.
The Bush administration was attempting to hide economic data by shutting down the award-winning website EconomicIndicators.gov
http://thinkprogress.org/wp-content/uploads/2008/02/econindbig.gif
Even as Forbes explained.. a “necessary” portal because it provides easy access to aggregated economic data across government agencies.
http://63.240.4.179/bow/b2c/review.jhtml?id=7136
But because of Public Pressure, the site will not be shut down. We just hope it will be accurate, ...due to who is running it.
The people need to continue to shine sunlight on all of these issues.
America - A great and good nation. All we are lacking are honest representatives.
Jeff and Kathy Smith
thanks, Jeff, appreciate your comment and info
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