Tax Tip Number Five

Here is this week's tax tip! With the economic stimulus act that Congress has passed, there is a tax break in sight for small business owners that need to purchase equipment in 2008. For the 2008 year ONLY, all business equipment that will be purchased this year that will be a depreciable expense on your 2008 taxes will receive an ADDITIONAL 50% in depreciation! This means that you could save money on next year's taxes by purchasing equipment this year! Now, what kinds of equipment are we talking about. Well, any large ticket items that you purchase for your business will qualify. For example, computers, swingsets, large play equipment, new refrigerators or other appliances, more expensive lawn or yard care equipment, etc. These items are all used to benefit your home daycare and can be depreciable items on your 2008 taxes. So buy them and put them into use in 2008 and you might save money on next years taxes! For more information on financing options for more expensive pieces of equipment ($5000 or more) for business owners, visit my blog http://ezrbusinesssolutions.blogspot.com