We are not claiming to be tax experts – seriously who could know everything about taxes anyway?  But a bill was signed into law on December 17^th, 2010 (H.R. 4853 – Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010) which includes a two-part extension of the bonus depreciation provision for all businesses, regardless of size. 

This new law was placed into service in an attempt to encourage capital investment through 2012.  This new law could allow businesses to write off an additional 100% of the cost of qualifying assets (including software like Microsoft Dynamics GP) acquired and placed into service after September 8^th, 2010 through December 31^st, 2011.  This law could also allow businesses to write off an additional 50% of the cost of qualifying assets (including software like Microsoft Dynamics GP) acquired and placed into service after December 31^st, 2011 through December 31^st, 2012.

Not only could this bill provide you with a tax break incentive to implement the finest ERP software in the market, implementing Microsoft Great Plains will also help you prepare your tax return.  Whether you complete your tax return yourself or if you provide all of your information to your tax accountant, using Dynamics GP will enable you to accurately record your business transactions and it will efficiently provide you with all of the information needed to prepare the tax return.

Please consult the bill or your tax accountant to understand how this bill could positively affect you.  The contents of this article do not constitute tax advice.

By Quadis Technologies – Nebraska Microsoft Dynamics GP Partner

February 1, 2011 by Quadis Technologies

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Tags: accounting software cost, Dynamics GP, Nebraska Dynamics GP Partner
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