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Taxation & Estate Planning

: Rubin on Tax

OBAMA SURPRISES WITH BUSINESS TAX BREAKS

By Charles Rubin

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In a surprising announcement, President-elect Obama has indicated that his upcoming stimulus package will include tax breaks for business. While lacking in details, the following breaks are expected to be included:
  • an extension of the net operating loss carryback period to five years for 2008/2009 losses;
  • a two-year extension of bonus first year depreciation;
  • enhanced expensing for business property; and
  • tax incentives for businesses that hire new workers.
Such relief will be welcomed, especially in light of the current business environment.

Full post as published by Rubin on Tax on January 08, 2009 (boomark / email).

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