INVESTMENT NEWS: NEW TAX BREAKS FOR SMALL BUSINESSES AND THEIR OWNERS, AND AMT UPDATE
Investment News reminds small business owners that they have an opportunity in 2009 to invest in their business: “The American Recovery and Reinvestment Act contains several provisions designed to encourage small-business owners to invest in their companies. Some of these provisions are available only for a limited time.” Read the article to learn more about these provisions so you don’t miss out on this savings opportunity.
Investment News Excerpt:
Increased limit on Section 179 expense: Businesses can elect to expense, rather than depreciate, the cost of machinery, equipment, vehicles and other tangible property placed in service in 2009. The maximum deduction is $250,000, and the cost of property in excess of this amount may be depreciated over the life of the property. In 2010, the Section 179 cap will drop to $133,000 (indexed for inflation). After 2010, the cap returns to the prior limit of $25,000.
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