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Brand-New Powerful Tax Incentives for New Equipment Purchases in 2008
February 13, 2008 - The recently enacted bipartisan Economic Stimulus Plan contains increased Section 179 expensing for 2008 small business equipment purchases, as well as a one-year 50% bonus depreciation allowance for new machine tools and other equipment ordered and placed in service during 2008. Use this one-pager to see how you and your customers can make these new provisions work for you.
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Congress Approves Economic Stimulus Plan
February 8, 2007 - Congress has just passed a 2008 Economic Stimulus Plan that contains increased Section 179 expensing for 2008 small business equipment purchases, as well as another one-year 50% bonus depreciation allowance for new machine tools and other equipment ordered and placed in service during 2008.
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The JFK Stimulus Plan
January 14, 2008 - President Bush is considering first-year expensing -- and may propose it in his State of the Union message. In a January 12 Wall Street Journal op-ed, Ernest S. Christian and Gary Robbins make the powerful case for first-year expensing.
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Proposed Tax Increase on Small Exporters Shelved by House, Senate
December 20, 2007 - Before adjourning for the year, both the House and Senate passed so-called “technical corrections” to various tax laws – but not before stripping out from the package a proposal that could have more than doubled taxes on some small- to mid-sized U.S. businesses that export.
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Congressional Tax “Reform” Plan Would Gouge Small Businesses
October 26, 2007 - The U. S. House’s top tax writer unveiled a long-awaited tax reform proposal this week that would eliminate the much-hated Alternative Minimum Tax for most individual taxpayers – but at the expense of American small businesses.
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Did you know that Congress included a small business tax break with the minimum wage hike it passed last May?
October 19, 2007 - As part of the minimum wage package passed last spring, Sec. 179/small business expensing was enhanced and extended through 2011. Today, companies can expense up to $125,000 of capital equipment purchases as long as total equipment expenditures do not exceed $500,000 in the given tax year. That amount is more than double the old law’s limit and is indexed for inflation. The maximum annual expensing amount is reduced dollar-for-dollar by the amount of qualified expensing-eligible property in excess of the limit.
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President Signs into Law Small Business Tax Relief, Minimum Wage Increase
May 30, 2007 - On May 25, President Bush signed into law the war supplemental funding bill that also includes two provisions directly affecting businesses: a $2.10 increase in the federal minimum wage, and a $4.8 billion package of tax relief aimed mostly at offsetting the wage hike costs for small businesses.
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For more information contact Amber Thomas at: athomas@AMTonline.org
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