Overview of the Job Creation and Worker Assistance Act of 2002 - PowerPoint PPT Presentation

Overview of the job creation and worker assistance act of 2002
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Overview of the Job Creation and Worker Assistance Act of 2002. Timothy D. Bachicha, CPA Extension Farm Management Specialist Colorado State University Cooperative Extension Telephone (719)852-2871 email: slvfrma@coop.colostate.edu. March 9, 2002. March 1, 2002 New Provisions

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Overview of the job creation and worker assistance act of 2002

Overview of the Job Creation and Worker Assistance Act of 2002

  • Timothy D. Bachicha, CPA

  • Extension Farm Management Specialist

  • Colorado State University Cooperative Extension

  • Telephone (719)852-2871 email: slvfrma@coop.colostate.edu


March 9 2002

March 9, 2002

  • March 1, 2002

  • New Provisions

  • Also technical corrections to EGTRRA


30 bonus depreciation

30% Bonus Depreciation

  • Qualifying Property

  • 20 year life or less

  • Leasehold Improvemts

  • Placed in service before Jan 1, 2005

  • Exceptions


Nol carryback

NOL Carryback

  • Loss Year 2001 or 2002

  • Carryback 5 years

  • Elect to forego 5 year, use 2 year


Amend

AMEND?

  • 30% Bonus Depreciation

  • NOL carryback

  • CONSULT YOUR TAX PROFESSIONAL


Other

OTHER

  • AMT Relief

  • Educators


  • Login