Quote:
Originally Posted by Michael Compton
All it is is an extension of a previous law passed in 2004 allowing auto racetrack owners to depreciate their facilities over a 7 year period. Their was no bailout only an extension. I assume the reason it has $100 million next to it would be the amount if money the government expects to lose in revenue.
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OK that make some sense to me. They must be using this to depreciate the additions/remodeling to the tracks already in existance and not a whole new track like the charlotte drag strip all at once. wouldnt that be tuff to depreciate a mutimillion dollar track in just 7 years.
I most likely did not word this right but I hope you get what I mean. I am used to small business stuff where they make us depreicate a item like a automotive lift or alignment machine over 7 years and big money stuff like my building quite a bit longer
Thank God I have a good tax man its hard enoughf to just make it in a small business without having to be a accountant/ Tax man too.