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Reese Henry & Company, Inc.
Phone 970.925 3771
Fax 970.925.3979

Aspen Office
400 East Main Street
Aspen, CO 81611

Carbondale Office
0326 Hwy 133, Suite 200
Carbondale, CO 81623

President Signs $787 Billion Stimulus Bill
Nearly 50% of Bill's Cost is for Tax Cuts
On February 17, 2009 President Obama signed into law the American Recovery and Reinvestment Act of 2009, a sweeping piece of legislation that includes over $326 billion of tax incentives, largely for low- to moderate -income wage earners, individuals, and families. Below is a summary of some of the key elements that might be of interest to you. The legislation contains many other provisions; at the bottom of this article is a link to an in-depth analysis of the entire bill.

Provisions Affecting Individuals
• A refundable tax credit of up to $400 per qualifying worker ($800 per couple filing jointly)
• Eased child tax credit and earned income tax credit rules
• Beefed-up tax credit for higher education
• Enhanced credit for first-time home purchases with the removal of the repayment requirement
• Tax deduction for state sales and excise taxes paid on the purchase of most new motor vehicles

Provisions Affecting Businesses
• Extended 50% bonus depreciation
• Increased equipment expensing limitations for 2009
• Longer net operating loss carrybacks
• Reduced capital gains tax for holders of qualified small business stock

AMT Tax Relief
• Boosts AMT exemption amounts for individuals for 2009
• Allows personal nonrefundable credits to offset AMT for 2009

Energy Incentives
• Extension of the production tax credit (PTC) for electricity derived from wind, biomass, geothermal, hydropower, landfill gas, waste-to-energy, and marine facilities
• Extension through 2010 of tax credits for certain qualifying home energy efficiency purchases
• Tax credit of up to $5,000 for families that purchase plug-in hybrid vehicles

Click here for more information about the stimulus bill

New Reese Henry Website Rocks!
We are pleased to announce the launching of the new and improved

We invite you to browse the many resources and useful information you will find there.

The info on the site changes often so be sure to check back frequently.

Click here to access the new Reese Henry website

Reese Henry & Company, Inc.
400 East Main Street Aspen, CO 81611
970.925 3771

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