Will the Government Bail You Out?

The U.S. Government may not bail you out, but they may help you pay for a Laserfiche Document Imaging system or for other upgrades in your technology.

There are only few weeks left to take advantage of the Section 179 tax deductions on IT equipment! Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment purchased or financed during the 2008 tax year. In addition, the Economic Stimulus Act of 2008 offers a one-time “bonus first-year depreciation” of 50% on qualifying equipment.

To qualify for the Section 179 deduction, equipment must be placed into service before December 31, 2008. For more information, please consult with a tax professional or the IRS website. You may also access more information about the Section 179 deduction at:
IRShttp://www.irs.gov/formspubs/article/0,,id=177054,00.html .

Larry Phelps
Solbrekk
Minneapolis, Minnesota

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