The Economic Stimulus Act and Section 179 " The American Recovery and Reinvestment Act of 2009" has been officially extended. The Section 179 Deduction increases made available in the Economic Stimulus Act of 2008 through December 31, 2009, if you have purchased and installed the equipment.

With the current news that is all around us it is sometimes hard to justify opening our pocketbooks and investing in our companies. We all know that the best way to improve ourselves and our businesses is to invest time, energy and money in accomplishing our goals. As the year draws to a close you need to take a look and see what can be done to improve your business. The decision to improve may save you money.

With the changes to the Section 179 Deduction made by the Economic Stimulus Act signed in February 2008 there are some exciting benefits for business.

2009 Limits
Deduction Limit $250,000 same as in 2008
Total Amount of Equipment $800,000 also identical to 2008
(deduction decreases dollar for dollar after limit reached as in 2008)

Section 179 can change yearly without notice, so it benefits you to take advantage of this generous tax code while it's available. Section 179 offers small businesses a great opportunity to maximize their purchasing power. In addition, the Economic Stimulus Act of 2008 has provided the small business owner with generous new (and higher) deduction limits. Most of the equipment your business will purchase or lease qualifies for the deduction, so do your homework and verify that your company is leveraging the Section 179 Deduction this year.

Of course, we recommend you speak with your tax advisor on how these provisions can benefit you directly.

For more information online including a Section 179 Deduction calculator and a list of qualifying equipment visit http://www.section179.org/.