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Old 11-19-2001, 08:29 AM
ScottH ScottH is offline
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Join Date: Jan 2001
Location: Lower Burrell, PA
Posts: 60
Special Tax Break

I had a short talk with our accountant.

I heard rumors, and he confirmed that there were special tax breaks approved after the 9/11 attacks

New tax breaks approved let you expense up to 30% of your asset purchases prior to using Sect 179 expense and normal depreciation.

Our guy thinks it only for purchases before year end. so, if you need and are thinking of buying stuff, you might as well take advantage of the current situation.

Check with your accountant first.

Happy Cutting !
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Old 11-19-2001, 08:43 PM
bruces bruces is offline
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Join Date: Jun 2001
Location: Independence, MO
Posts: 648
The tax changes haven't been passed yet. If you are considering doing something, check to make sure the laws have actually been changed.

Also, make sure any proposed purchases make business and economic sense, not just tax savings.

Now is a great time to be reviewing your year and deciding if you want to purchase next years equipment now instead of waiting till spring.
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