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Hi, Website Visitor. Here are your Articles for March 5, 2008.
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Yesterday, March 4, was the 75th anniversary of the inauguration of Franklin Delano Roosevelt. It was during his inaugural address that FDR stated his famous line, "The only thing we have to fear is fear itself." It is interesting to note that the country was at one of its lowest points when he took office for the first time.
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At the end of your audit, you received a Letter on Internal Controls from your auditor. What is this and what does it mean to your organization?
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As you may have heard, the Economic Stimulus Act of 2008 has increased the maximum limit for Section 179 expense depreciation to $250,000 and created a 50 percent write-off "bonus depreciation" for qualified property placed in service in 2008. This tax law is very tax advantageous for business owners that purchase new equipment before Jan. 1, 2009.
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