2008 Economic Stimulus Act Benefit – Faster Business Equipment Write-off

How can your small business benefit from the Congress’s 2008 Economic Stimulus Package? US Business Finance has several ways to help small businesses find financing to take advantage of this one time offer from the government. For a fast review or the benefits, the SBA website covers what faster depreciation relief business owner’s can expect from the new stimulus package. For companies whose fiscal year starts in July 2008, these advantages of buying business equipment run through June 2009.

To find out the specifics, check the SBA website for their eight minute audio video slide show that reviews the various deductions and provisions. The SBA site also has a Word document executive summary to download that includes three links to IRS publications that give further guidance, details and perceived benefits of the Act.

In a nutshell, the Act allows you a much higher amount of equipment you can expense (up to $250,000) and the ability to write of 50% of your purchase in the first year (2008) and then apply your regular first year depreciation to the other 50% your business equipment’s purchase price.

Office equipment, restaurant equipment, machinery for manufacturing businesses are all covered by the Stimulus Act. Since the Act includes various exceptions and additional requirements (it was crafted in Washington) reviewing the benefits of the Act for your particular business with your tax advisor is advisable.

If you are looking to acquire business equipment for you next expansion or to improve productivity, consider US Business Finance Corp’s the alternative financing resources. We have helped many small businesses purchase their business equipment either by the traditional routes or by using future credit card sales to pay for equipment today with a business cash advance. While we help businesses like yours to get the cash you need to succeed in less than two weeks, the government is giving you more advantageous terms in which to write off your equipment purchases this year.

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