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Special Tax Break

Discussion in 'Business Operations' started by ScottH, Nov 19, 2001.

  1. ScottH

    ScottH LawnSite Member
    Messages: 60

    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 !
  2. bruces

    bruces LawnSite Senior Member
    Messages: 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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