Economic Stimulus Act of 2008
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Earlier this year the Economic Stimulus Act of 2008 was passed which includes two provisions that were created specifically to help businesses: - A change to the U.S. tax code allows businesses that buy new equipment to deduct 50 percent of the cost of their investment - up from 20 percent - meaning businesses who buy new equipment this year will also significantly lower their taxes.
- The second provision was specifically designed to help small businesses. Any business placing less than $800,000 of equipment into service this year can immediately deduct up to $250,000 of its investment in 2008, up from the usual $128,000
For more information about the Economic Stimulus Act visit the IRS Website.
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Offer Expires: December 31, 2008
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