Section 179…..Going, Going, Gone?

It’s almost the first of November and to date there has been no mention of extending the very popular IRS Section 179 program.  Section 179 is one of the (very) few items from the 2008 stimulus package that is a real tangible benefit to small and medium size businesses.  It allows for bonus depreciation on asset purchases (including leases and installment purchases) of up to $250,000 on your company’s 2009 tax return.  If your company is going to have a tax liability for 2009, it’s time to start a little planning.  Your tax preparer is aware of the program, (if he’s not, you need a new tax preparer) so talk to him.  If Uncle Sam wants to be in for a third of your purchase, who are you to deny him?  More information is available at www.section179.org