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Step Up to Higher Section 179 Deductions

Summary:

The Economic Stimulus Act of 2008 increased the annual limits for the Section 179 "expensing" deduction. For 2008, your business can currently write off up to $250,000 of qualified business assets placed in service during the year. Prior to the new law, the maximum deduction was $125,000 (inflation-indexed to $128,000 for 2008).

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