Have you looked at your paycheck lately? Pull it out again and look at your net pay. With the recent tax law changes, the federal government is letting me keep more of my money. Not much more, but I think I can go out to eat a couple more times each month. Congress and President Bush recently gave industry the same nice midyear gift they gave individuals.
A recent article by Tribune Media Services describes the changes in Section 179 of the federal tax code. This section addresses how much a company can expense in “qualifying property” during the first year the property is put in service. Previously, that amount had been only $25,000—a nice amount for you and I personally, but not much when it comes to corporate investment. However, that’s changed.