2009 Econonic Stimulus Act Ends December 31, 2009
How can your business benefit from the Economic Stimulus Act of 2008. The Section 179 Deduction has been significantly enhanced by the Economic Stimulus Act of 2008, and now extended to December 31, 2009. This gives businesses an incentive to invest in themselves by purchasing or leasing new equipment.
The specific impact the Economic Stimulus Act has had on the Section 179 deduction is related to the dollar limits of the deduction. The previous dollar limits were a $125,000 limit on the deduction and the total amount of equipment purchased could not exceed $500,000. The Economic Stimulus Act raised these limits significantly. The new deduction limits are $250,000 on the deduction, and the total amount of equipment purchased cannot exceed $800,000.
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