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Publication Date: 02/2005
Pages: 1
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New equipment = Super tax break 02/2005

The Jobs & Growth Tax Relief Reconciliation Act offers tax incentives to businesses that buy new capital equipment.

Question: What could be better than seeing new equipment improve your process’s performance and efficiency? Answer: Being able to write off the cost of that new equipment on next year’s tax forms.

That's right. Not everyone is aware of it, but the new tax law President George W. Bush signed into law on May 28, 2003, allows many companies to write off the entire cost of certain new capital equipment. It allows other companies to write off a bigger portion of the cost than ever before. Congress designed the Jobs & Growth Tax Relief Reconciliation Act of 2003 to spur the economy by, among other things, saving companies a whole bunch of money when they spend on capital equipment.

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