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YOU can’t afford NOT to buy new equipment, Milt Zall

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The big news is the passage of new tax legislation, the Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRA). Congressional conferees on May 22 cobbled together a $350 billion economic stimulus package that President Bush signed into law.

A major feature of JGTRA for engine builders is an increase in the expensing allowance from $25,000 to $100,000 for firms that put less than $400,000 of assets in use in a year. This provision is retroactive to Jan. 1, 2003, and will last through 2005.

Engine builders and machine shops should purchase as much new equipment as they can now to take advantage of the new $100,000 expensing limit because the expanded expensing amount is scheduled to revert to $25,000

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