Gardner's Accounting and Finance Update
January 2009
Gardner Resources wishes you and yours a healthy and happy holiday season. Here is an article that you may find interesting given the current economic situation. Visit our website to view current opportunities available through Gardner Resources as well as to view our articles.
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The Gardner Resources Group Team
ECONOMIC STIMULUS ACT 2008
Economic Stimulus Act Provides Major Incentives for Business
By Susan Day
Gray, Gray & Gray, LLP
While rebate checks for individual taxpayers have taken the center stage for most of the coverage of the Economic Stimulus Act, there is plenty included in the package for businesses. The legislation offers nearly $50 billion in temporary incentives to increase business investment.
Passed in February, the new law brings back the 50% bonus depreciation first unveiled after September 11, 2001 for all businesses, and for small businesses nearly doubles the amount eligible for the IRC Section 179 expense deduction. These incentives apply to assets purchased during 2008 for calendar year taxpayers.
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