|
|
Article: The business end of the economic stimulus package
- Article from:
- Colorado Springs Business Journal
- Article date:
- April 11, 2008
- Author:
CopyrightCopyright 2008 Colorado Springs Business Journal. Provided by ProQuest LLC. (Hide copyright information)
|
Much ado has been made about the $152 billion Economic Stimulus
Act of 2008 -- without much ado about the business aspect of the
law.
But CPAs, bankers and the IRS know the value of the temporary
business tax incentives offered in the package. The stimulus act
contains two key provisions for businesses that will increase the
amount of first-year write-offs.
Temporary increase
in limitations on expensing
Prior to the new law, a business could deduct $128,000 of the
cost of certain depreciable assets. Under Section 102 of the new