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Articles with the keyword "Economic Stimulus Act"

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Emergency Economic Stabilization Act of 2008 Extends Charitable Giving Provisions

On Oct. 3, President Bush signed H.R. 1424, the Emergency Economic Stabilization Act of 2008 (the Act) into law. This 451-page bill establishes a $700 billion Treasury fund to purchase troubled assets from financial institutions.The Act also includes 41 pages…

The Economic Stimulus Act of 2008

Tax law enacted to spur U.S. economy: The Economic Stimulus Act of 2008 (the Stimulus Act) is designed to boost the U.S. economy by providing tax rebates to individuals and tax incentives for businesses.Recovery rebatesTo encourage spending that stimulates economic…

50% Bonus Depreciation on New Equipment Purchased in 2008

Similar to the old bonus depreciation rules, the new law allows a bonus first-year depreciation of 50% of the adjusted basis of qualifying property placed in service after December 31, 2007, and before January 1, 2009.To be considered qualifying, the…

Section 179 Expensing Limits for Businesses Drastically Increased for 2008

For years beginning in 2008, the maximum Section 179 expense deduction is raised to $250,000. The $250,000 limitation is reduced by the amount by which the cost of Section 179 property placed in service during the tax year beginning in…

Many Working Americans Will Get Tax Rebates

Under the new law, at least 117 million low- and middle-income households will receive one-time tax rebates, along with 20 million senior citizens living on Social Security and 250,000 disabled veterans. How do the tax rebates work?: Single tax filers…


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