The new tax bill just signed by the President contains some good news for small businesses.

After next year the “Section 179″ deduction limit was scheduled to fall back to $25,000 — way down from the current cap of $108,000.

This is the tax reg. which allow us to write off 100% of the cost of equipment and software immediately in the year of purchase, instead of depreciating the cost over several years.

The good news is that this nice little benefit has now been extended through 2009.

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