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Economic Tax Incentives for Equipment Purchase
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Economic Tax Incentives for Equipment Purchase
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The Economic Stimulus Act of 2008 provides incentives to businesses for equipment purchases.
Under the new law, a taxpayer is entitled to depreciate 50 percent of the adjusted basis of certain qualified property during the year that the property is placed in service.
Also under the new law, a qualifying business can expense up to #250,000 of section 179 property purchased by the taxpayer in a tax year beginning in 2008.
See the Internal Revenue Service article for more information. |
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