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Lower Your Taxes with Section 179 Deduction
Internal Revenue Code Section 179 allows a taxpayer to expense up to $102,000 of qualifying property placed in service during 2004 and 2005 (adjusted for inflation in 2005). After 2005, the annual limit will be reduced to $25,000. The $102,000 limit is reduced dollar-for-dollar (but not below zero) to the extent the taxpayer purchases more than $410,000 of qualifying property in 2004 and 2005 (adjusted for inflation in 2005).

Qualified Tuition Programs
It seems that with each passing year, the cost of a college education continues to climb at an alarming rate. Meanwhile, parental concern about how to pay for that college education also continues to increase. A qualified tuition program (QTP), often referred to as a Section 529 plan, may be a welcome source of relief to many nervous parents and students as well.