News flash!!

On May 25, 2007, the President signed into law H.R. 2206, the Small Business and Work Opportunity Act of 2007. The Act extends the expanded benefits of Section 179 through 2010 and increases the maximum annual deduction from $112,000 to $125,000. The amount of annual cost additions that trigger a phase-out of the 179 deduction has also been increased from $450,000 to $500,000. For all relevant information on this amazing income tax deduction read this article and this one also.

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