TITLE

Ready, Set, Spend

AUTHOR(S)
Briody, Dan
PUB. DATE
November 2004
SOURCE
CIO Insight;Nov2004, Issue 46, p26
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
This article explains that the Jobs and Growth Tax Reconciliation Relief Act of 2003 allows corporations in the United States to depreciate 50 percent of the cost of tangible assets, including hardware and software, in the first year of purchase, up from the previous 30 percent. This tax relief legislation is specifically designed to boost capital investment in information technology (IT). The catch is that the equipment must be purchased and deployed by January 1, 2005. Many chief information officers (CIOs) have not heard of the tax relief. It is very common for chief financial officers not to communicate information to CIOs that might encourage IT spending. The act is retroactive and can be applied to purchases made between May 5, 2003 and the New Year.
ACCESSION #
15231189

 

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