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aimedcpa
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Joined: 16 Dec 2008
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Posted: 14 Jul 2009 at 18:00 \| IP Logged

aimedcpa wrote:

arushi_13 wrote:

Some points I had noted For 2009:
1) personal exemption amount = 3,650
2) Section 179 deduction is $133,000 and the limit is reduced during the year for purchases that exceed $530k.
3)Annual gift exclusion = 13k
4)Keogh deduction increased to 49,000.
5)Adoption expense credit = 12,150
6)limit on itemized deduction phaseout AGI> 166,800

Thanx Arushi for posting 2009 rates for everyone here

But Now I m confusedthat Max sec 179 exp ded= 250,000(2008-09)

& is reduced dollar for dollar for prop in inxcess of $800,000

Pls confirm sumone.....

http://www.taxguru.org/incometax/Rates/Sec179.htm

bryris
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Posted: 14 Jul 2009 at 21:33 \| IP Logged

arushi_13 wrote:

Thanks bryris and good luck for the 23rd.
Please do share your exam experience.

Thanks.

When are you taking it?

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kj_nyc
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Posted: 14 Jul 2009 at 22:41 \| IP Logged

Section 179 max remains at $250,000 for 2009 courtesy of the American Recovery and Reinvestment Act (ARRA). See http://www.irs.gov/newsroom/article/0,,id=205330,00.html

arushi_13
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Posted: 15 Jul 2009 at 00:51 \| IP Logged

Thanks kj_nyc.

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arushi_13
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Posted: 15 Jul 2009 at 00:52 \| IP Logged

bryris wrote:

arushi_13 wrote:

Thanks bryris and good luck for the 23rd.
Please do share your exam experience.

Thanks.

When are you taking it?

28th of this month.

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