|
|
Article: Economic Stimulus Act of 2008: Analysis of Major Provisions
- Article from:
- The CPA Journal
- Article date:
- June 1, 2008
- Author:
CopyrightCopyright New York State Society of Certified Public Accountants Jun 2008. Provided by ProQuest LLC. (Hide copyright information)
|
Although the Economic Stimulus Act of 2008 provides only a few incentives for businesses to purchase additional equipment, it provides the much-publicized rebate checks for individuals. The business incentives are basically limited to enhanced write-off provisions for new equipment purchases. Because the Act was rushed through the House, and the Senate was pressured to quickly adopt the House version with few changes, members of Congress were unable to fill the Act with earmarks or pork-barrel projects.
Business Incentives
IRC section 179 expense. The Economic Stimulus Act provides taxpayers (other man estates, trusts, and certain noncorporate lessors) with a significant opportunity to ...