bmcper 
CEO/Auditor
Posts: 155
(4/5/02 1:59 pm)
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Tax Changes for Tax Year 2001
Depreciation
Economic stimulus initiatives finally made it through Congress. As of Saturday, March 9th, new tax laws were enacted, including one provision that increases the amount of depreciation you can take on equipment and many other types of property. And, here's the kicker: this change and a few other changes take effect for 2001! So ... if
you purchased equipment or other property (except real estate) for use in your business after September 10th, 2001 and before the end of the year, you should take a look at the IRS' explanation of the new Job Creation and Worker Assistance Act of 2002. If you've already filed your 2001 tax return, it may be in your best interest to file an amended tax return for 2001!
Edited by: bmcper at: 4/5/02 1:01:41 pm
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