Greetings!
Businesses will be affected by two major temporary provisions relating to asset depreciation as a result of the Economic Stimulus for the American People Act of 2008. First, the Section 179 annual expensing and investment limitations will be  dramatically increased from their current amounts. Second, all businesses will be entitled to an additional 'Bonus' depreciation amount for most assets acquired after January 1, 2008. Red Moon Solutions has incorporated the temporary tax law changes, regarding asset depreciation, into its Fixed Assets Management (FAM) product.
Read more in the AICPA Insider article below as Paul R. Pavich from Red Moon Solutions discusses how software developers programmed answers for the Economic Stimulus Act of 2008.
Coping With the Ever Changing Depreciation Rules
For additional information on how these new rules will affect your clients, please call Paul R. Pavich at (941) 379-7103 or email your questions to: paul.pavich@redmoonsolutions.com. |
