Tax Breaks for Businesses

There’s good news for American businesses in the recently passed stimulus legislation.

The Federal Government’s economic stimulus package allows businesses generous tax breaks for equipment investments in 2008.

The bonus depreciation permits companies to deduct an additional 50 percent* of most
new equipment investments made this year. Furthermore, businesses may be able to expense $250,000 in new and used property in the year it’s purchased. That’s double the previous amount!

* Have a conversation with your tax advisor to be sure how these changes may affect your business, and act accordingly.

When you look at the numbers, it’s really a no-brainer. The smart choice would be to buy American and make those stimulus dollars work even harder by circulating them in the U.S. economy. Download this PDF file for examples on how the Economic Stimulus Act can work for you!