Some stimulus trickle-down for trucking
The $787 billion economic stimulus doesn’t offer much for leased operators other than hopes of better roads and, with federal aid to banks, easier credit.
Some tax provisions, though, can benefit carriers, including small owner-operator independents, and to a lesser extent leased operators with an extension of capital expenditures deduction. The American Trucking Associations reports that the package:
• Extends bonus depreciation, allowing businesses to make a tax deduction of 50 percent of the cost of depreciable capital expenditures within the first year of the property’s purchase;
• Extends enhanced small business expensing; and
• Provides incentives to hire unemployed veterans and disconnected youth.
For more detail, read here.
— Max Heine