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Business Incentives in the Economic Stimulus Act of 2008: A Welcome Boost for the Leasing Industry
The Economic Stimulus Act of 2008 HR 5140, a new tax act, was signed by President Bush on Feb. 13, 2008. The act includes benefits for individuals and for businesses. The terms of the act include two incentives designed to spur capital equipment purchases, and are estimated to create $44.8 billion in tax benefits in the form of accelerated write-offs for U.S. businesses. This article explains the terms in the tax act that impact the leasing industry, explains how the terms in the act are likely to affect leasing companies and explains how leasing companies can benefit from them.
IRS Code Section 179 Write-offs
Code Section 179 allows small businesses (measured by how much property they purchase) to deduct the full cost of a specified amount of property (equipment and off-the-shelf software are included in property) purchases in the year of acquisition. It is the same as taking a 100% depreciation deduction in year 1. The Economic Stimulus Act of 2008 increases the specified amount of qualifying property purchases that small businesses can expense immediately from $128,000 to $250,000. The purchases must have been committed to after Dec. 31, 2007 and the assets must be delivered and placed in service by Dec. 31, 2008. The threshold before the expensing is phased out is increased from $500,000 to $800,000. Once property purchases reach $1,050,000, the benefit is completely phased out. Generally, the property must be tangible personal property, which is actively used in the taxpayer's business and for which a depreciation deduction would be allowed. The property must be used more than 50% for business and must be newly purchased property. The deduction is disallowed if the taxpayer does not have taxable income for the year the property is placed in service. However, the disallowed deduction may be carried forward to a non-loss year.
Yachts, Jets, Horses & Hooch: Specialized Commercial Leasing Models
Defining commercial real estate asset class is essentially a property explaining how it identifies — not necessarily what its original intention was or what others think it ought to be. This article discusses, from a general issue-spot and contextual analysis perspective, how lawyers ought to think about specialized leasing formats and the regulatory backdrops that may inform what the documentation needs to contain for compliance purposes.
Hyperlinked Documents: The Latest e-Discovery Challenge
As courts and discovery experts debate whether hyperlinked content should be treated the same as traditional attachments, legal practitioners are grappling with the technical and legal complexities of collecting, analyzing and reviewing these documents in real-world cases.
Identifying Your Practice's Differentiator
How to Convey Your Merits In a Way That Earns Trust, Clients and Distinctions Just as no two individuals have the exact same face, no two lawyers practice in their respective fields or serve clients in the exact same way. Think of this as a "Unique Value Proposition." Internal consideration about what you uniquely bring to your clients, colleagues, firm and industry can provide untold benefits for your law practice.
Risks and Ad Fraud Protection In Digital Advertising
The ever-evolving digital marketing landscape, coupled with the industry-wide adoption of programmatic advertising, poses a significant threat to the effectiveness and integrity of digital advertising campaigns. This article explores various risks to digital advertising from pixel stuffing and ad stacking to domain spoofing and bots. It will also explore what should be done to ensure ad fraud protection and improve effectiveness.
Turning Business Development Plans Into Reality
This article offers practical insights and best practices to navigate the path from roadmap to rainmaking, ensuring your business development efforts are not just sporadic bursts of activity, but an integrated part of your daily success.