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¶1364.2 Extension of
$100,000 expensing through 2007 under the American Jobs
Creation Act of 2004
On Friday, October 22, 2004,
President George W. Bush signed into law the American
Jobs Creation Act of 2004 which contains $145 billion in
business tax breaks, which is particularly attractive to
small businesses such as Software Motif's customers and
future customers.
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An important provision
for small businesses and self-employed individuals
in the recently passed American Jobs Creation Act of
2004 is the extension through 2007 of the small
business expensing provision that allows
businesses to expense up to $100,000 of assets
instead of depreciating them over several years.
Here are the details. |
Dell Axim X50v Bundle |
Federal tax law provides
that, in lieu of depreciation, a taxpayer with a
sufficiently small amount of annual investment may elect to
deduct such costs. For tax years beginning in 2003, tax
legislation in 2003 increased the amount a taxpayer may
deduct to $100,000 of the cost of qualifying property placed
in service for the taxable year. In general, qualifying
property is defined as depreciable tangible personal
property (and certain computer
software) that is purchased for use in the
active conduct of a trade or business. The $100,000 amount
is reduced (but not below zero) by the amount by which the
cost of qualifying property placed in service during the
taxable year exceeds $400,000. The $100,000 and $400,000
amounts are indexed for inflation ($102,000 and $410,000 for
2004).
For 2006 and later years,
however, the $100,000 limit was scheduled to drop to
$25,000.
The new law extends the $100,000 expensing limit for two
more years, through 2007. It also extends for two years (1)
the $400,000 amount, (2) the provision that includes certain
computer software as qualifying property, and (3) a
provision permitting taxpayers to revoke an expensing
election on an amended return without the consent of the
IRS.
This tax information is
provided by:
Carrol Gatlin, CPA,
MST, CMA, CVA
Freeman Wehmhoff Gatlin, PLLC
10405 6th Avenue Suite 130
Plymouth, MN 55441
Office: (763) 545-9950
If you would like more
details about this or any other aspect of the new law,
please do not hesitate to call Carrol.
To our existing and future
customers, this is a great advantage for all chiropractic
offices to reduce tax liability while expanding your offices
with new computers and equipment.
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Sincerely, |
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James D.
Carlburg, Pres.
For Software Motif, Inc. |
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MyEMR 2005 for the Pocket
PC Standard Edition: Optimized for the Pocket PC "Designed
for Windows Mobile" operating systems. $777.00 for "per
doctor" software licensing so a doctor can use it on
multiple Pocket PC's. Locally available or mail
ordered Pocket PC hardware averages $300. Check out
Dell's X50v bundle.
MyEMR 2005 for the Pocket PC – from the
creator of Cairo
for the Pocket PC.
800.481.9060
sales@softwaremotif.com |
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We've added text
randomized response to treatment, as indicated by
the State of Pennsylvania's Medicare rules, text
randomized home instructions and patient counseling,
work hardening routines as well as lead-in
descriptions for orthopedic/neurological testing to
be presented prior to the test results. All
content is text randomized and provides the ability
to merge patient names, appropriate pronouns based
on the patient's sex, all while maintaining the
"snappy" performance of MyEMR for the Pocket PC.
MyEMR 2005 for the
Pocket PC
is our SOAP note and reporting software designed for mobile
platforms. Although MyEMR for Windows desktops and
MyEMR for the Pocket PC share the name of "MyEMR", they are
significantly different applications designed for the
similar purposes.
MyEMR 2005 for the Pocket PC
provides many more features than our desktop version, with
meticulous attention to an easy user interface. This
is because it is a grass roots re-write of random text
generation software to provide the best feature set
available when compared to any software, either for
desktops, laptops, Palm Pilots or Pocket PC's.
MyEMR 2005 for the Pocket PC has great strengths in daily SOAP
reporting, but is particularly strong in its exam features.
Exams include initial exams, vital signs, postural analysis,
orthopedic tests, neurological signs, neurological reflexes,
muscle testing, sensory testing, grip strength testing and
more. All of the tests and their test groups and test
orders are user definable.
It's very easy to get
started. All you need is a Pocket PC and to call us!
800.481.9060. |
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