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Save with Tax Relief Act of 2010

 

Don't miss this opportunity:

A real government stimulus plan for small businesses!

 

IRS Section 179 Equipment

The "Tax Relief Act of 2010" Section 179 Tax Deduction enables businesses to expense the first $500,000 of capital equipment or software acquired in 2011 regardless of whether the acquisition is purchased, leased or financed. Businesses must act before the end of the year to take advantage of the federal government's offer.

 

Section 179 allows businesses to expense, up to a certain limit, the entire purchase price of qualifying equipment financed in the year 2011 (i.e. deduct the entire purchase price from this year's current gross income as opposed to taking depreciation deductions over time). Qualifying equipment purchases generally included most types of outdoor signage. Check with your accounting professional to be sure you qualify.

 

Here's a sample of how the Act works:

Qualifying sign purchase of lease: $60,000

Section 179 deduction/depreciation: $60,000

Assume your tax rate is 35%: $21,000

Actual cost to your business: $39,000

 

So, the federal government actually pays $21,000 (your tax savings in the current year) of your $60,000 "Sales Generator" sign. Finally, a real government stimulus plan for small businesses!

 

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