actual taxes in a year of severe economic contraction.
– Extension of Bonus Depreciation Deductions Through 2009:
The Recovery Act also extends through 2009 bonus depreciation, allowing businesses to take a larger tax deduction within the first year of a property’s purchase.
– Incentives for Investors to Put Money in Small Businesses:
Finally, the Recovery Act includes a measure that will exclude from taxation 75 percent of the capital gains for investors in small businesses who hold their investments for five years. In his budget, the President proposes to go further, eliminating all capital gains taxes on small businesses and making this measure permanent.
(Source: White House)