Congress recently passed the Economic Stimulus Act of 2008 intended to fuel the United States economy through tax incentives aimed at encouraging businesses to increase investments in equipment, software, and other qualifying assets in 2008. Tax code changes under the Act allow businesses to write off up to $250,000 of qualifying Section 179 property in 2008. In addition, businesses will be able to deduct an additional 50% off the cost of certain investments with an expected life of 20 years or less.With the return of bonus depreciation benefits, nearly double the Section 179 expensing limits, and increased investment limits, this year's Economic Stimulus Act is expected to encourage more businesses to accelerate capital investments into their 2008 budgets allowing them (and our economy!) to keep growing into the future. This document explains:Key components of the ActHow these changes affect your businessHow to take full advantage of these benefits, including opportunities for:Maximizing Section 179 expense increases by carefully choosing longer-life assets and placing them in service at the appropriate timeUsing Bonus Depreciation to quickly recover the cost of equipment, software, and other qualifying asset purchases made in 2008Managing complex tax code changes through the use of softwareRequest Free!