Hefty Tax Breaks Designed to Spur Business Spending

Hefty Tax Breaks Designed to Spur Business Spending - http://www.kiplinger.com Avatar Posted by morecowbell under Taxes
From http://www.kiplinger.com 5125 days ago
Made Hot by: on May 18, 2008 8:37 pm
Businesses are big winners in the economic stimulus package signed into law earlier this year. They may not be getting rebate checks, but they are getting showered with $45 billion in tax breaks designed to spur them on to purchase more equipment, cars and other assets sooner rather than later.

Congress boosted the limit on first-year expensing of assets -- the so-called Section 179 deduction -- to $250,000 for 2008. That's up from $128,000 under previous law and means a business can instantly write off up to a quarter of a million dollars' worth of expenses that otherwise would be deducted over a number of years.





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