Recovery Act 101
With much debate, the Recovery Act of 2009 was passed by Congress to help pull the U.S. from the grips of a historic recession. There are many provisions in the new law that could help package printers in these difficult times.
A similar provision extends increased Section 179 expensing benefits for assets purchased and placed in service in 2009. This is primarily geared toward small businesses and allows the full expensing of otherwise depreciable assets in one year up to a maximum deduction of $250,000. This $250,000 maximum is reduced if a company acquires more than $800,000 of qualifying assets. Without the extension in the Recovery Act, the previous limits were a $128,000 deduction, reduced with $510,000 of acquired assets, according to the IRS.
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