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PRESIDENT TO SIGN TAX BILL TOMORROW?

October 21, 2004

The President may sign HR 4520, the ETI repeal bill, " as early as October 22," according to a story by Tax Analysts.

The day the bill is signed is the last day an SUV can be placed in service in a business and qualify for a Section 179 deduction of up to $102,000. The limit goes down to $25,000 the next day.

Of course, the SUV also has to be primarily used in your business to qualify. Be sure to consult your tax advisor if you aren't sure if it does.

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