Atlanta, GA (PRWEB) March 19, 2010
It has been on the mind of many businesspeople this winter, and now it’s been confirmed by informational website http://www.Section179.Org: Section 179, that ever-popular business equipment tax deduction, is returning for 2010. And not just returning, but also keeping the same “higher” limits that were originally written into the tax code for 2008 and 2009.
This is music to business people’s ears, says equipment financing specialist Chris Fletcher “Businesses have been waiting in anticipation for some word on keeping the enhanced expensing provisions in Section 179, and now it’s finally going to come, resulting in a rather big sigh of relief.” said Fletcher “In fact, there’s also been relief that the higher limits were kept, allowing taxpayers to write off up to $250,000 of qualified property. This is a big deal for businesses.”
Fletcher is referring to the Economic Stimulus Act of 2008, followed by the American Recovery and Reinvestment Act of 2009 (congressional bills H.R.1 and S.1 respectively), which almost doubled Section 179’s limits. And these higher limits have been carried over to 2010. The tax incentive is designed to assist equipment manufacturers and dealers as well as software publishers and distributors increase sales in 2010 by giving small business owners an immediate deduction this year.
Word of Section 179’s return first came about in the language of the HIRE Act – ‘Hiring Incentives to Restore Employment Act’ that the Senate had voted to approve on February 24th, but was modified by the House on March 4th. The final bill passed on a bipartisan Senate vote of 68-29 on March 17th – extending the enhanced Section 179 tax deductions. http://www.Section179.Org, an informational website dedicated to Section 179, has posted a new page spelling out the details of the new legislation, and invites people to visit the site and bookmark it so they can get the latest updates.
“We’re devoted to keeping http://www.Section179.Org updated with the latest information.” says a spokesperson “We’ll have a page for the new 2010 stuff, a 2010 Section 179 calculator, and a host of other pages that explain this important business deduction in plain English. The site is 100% free, so we invite everyone to come by and learn how this deduction can help their businesses in 2010.”
Section179.Org is a leading resource of unbiased Section 179 information. Culled from the combined knowledge of several financial professionals, and completely free, the website has proven to be exceptionally useful in answering just about any businessperson's Section 179 questions - in plain English. The site also encourages others to link to it as a definitive resource for Section 179 information. For more information, visit http://www.Section179.Org.