The clock is ticking on two new tax breaks that are scheduled to expire at the end of this year that benefit businesses that purchase packaging machinery and other capital equipment.
The tax breaks were extended or enhanced as part of the American Taxpayer Relief Act of 2012 and went into effect on January 2. The revised tax laws allow companies that acquire new packaging equipment and other capital during 2013 the chance to substantially increase the value of their purchases.
With half the year now gone, there are only six months remaining to take advantage of these new tax breaks before they are scheduled to expire.