Additionally, the legislation expanded small business expensing and depreciation rules.
He supervised revision of depreciation rules to benefit corporate investment.
Another business coalition is pushing to win more favorable depreciation rules for capital purchases.
To make matters harder, the recent federal law aimed at stimulating the economy changed the depreciation rules for business assets like machinery and plants.
One such proposal would give businesses that make long-term investments in plants and equipment less generous depreciation rules immediately, but much more favorable rules later.
All depreciation rules can be stated as equations representing their curve over time.
People who own businesses can also realize substantial tax savings by taking advantage of generous new depreciation rules.
After five years, the owner would be able to write off even more - $43,416 - than he would under the accelerated depreciation rules by themselves.
The complication to which your accountant referred probably had to do with depreciation rules.
Capital investment by corporations dropped 12 percent in 2002 and 3 percent in 2003, the years when Congress enacted the new accelerated depreciation rules.