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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tonto who wrote (623251)	8/7/2011 11:56:00 AM
From: i-node	1 Recommendation Respond to of 1579414

Yes, I. Am sure the section 179 allowance is seen by some as a loophole. The reality is there probably isn't a more stimulative measure in the entire federal tax code. Section 179 was developed to replace the old section 38 investment credit as well as "bonus" depreciation, which were stimulative measures installed under JFK. As to private jet owners, however, The section 179 allowance is limited both by entity income and by statute at a fraction of the cost of a jet. And deductions would be allowable only to the extent of the legitimate business use. In short, it is just red meat for the leftwing nut jobs.