A new article in the Charleston Regional Business Journal contains information and analysis of the tax breaks offered by the new Stimulus package. Mark Cooter, of the accounting and advisory firm Elliot Davis, offers insight and analysis into some benefits for investors. The new laws are chock full of tax provisions for people interested in making real estate purchases in the current tax year. Besides the first-time home buyers tax credit of $8,000, there are other benefits that may make the decision of “to buy or not to buy” a bit easier for some. Most notable among the incentives is the extension of the bonus depreciation rules, which allow a 50% bonus over standard IRS depreciation allowances on fixed assets until then end of 2009.
Click HERE for the full article.