The clock is ticking for businesses to take full advantage of tax benefits provided in the Economic Stimulus Act of 2008.

The law increases Section 179 expensing limits for purchased property placed in service during the 2008 tax year to $250,000 from $128,000. Further, the law provides an additional 50% special depreciation allowance for property and equipment acquired and placed in service during 2008. The remaining value of the investments will be depreciated over the life of the item beginning that year.

Don't put off that new business purchase. Invest in your company now and reduce your tax bill.

To learn more, visit www.uschamber.com/stimulus.