2009 Tax Breaks for U.S. Businesses

The 2008 Stimulus Act was enacted to give a boost to our flagging economy. While most people are familiar with some of the more visible results of H.R. 5140 - e.g. the $8,000 tax credit for first time home buyers and the Cash for Clunkers program - the stimulus package also made substantial changes that greatly benefit our nation's businesses. Section 179 of the U.S. tax code has been modified to allow businesses to deduct a higher rate of depreciation when filing taxes this year than was permitted in previous years. This unprecedented move has made 2009 the best year to overhaul your outdated system. Servers, firewalls, switches, and even software are covered under this change, but the adaptation of the tax code is not permanent. Contact us today and we will help you take advantage of the opportunity.

For more information, visit either of these two sites:

This site provides information on the changes to Section 179 in plain English:

http://www.section179.org/index.html

For a more technical look into the actual changes to the tax code, please visit the IRS:

http://www.irs.gov/formspubs/article/0,,id=177054,00.html

*Note: This information is only to be used as a starting point in one's research into the changes made to Section 179 of the tax code, and is not to be considered as expert, tax advice. Talk to your accountant before you make any decisions on how you and your business will file taxes this year.