BONUS DEPRECIATION UNDER THE ECONOMIC STIMULUS ACT OF 2008
Santa Clara, CA, February 26, 2008 – RHUB Communications, Inc. (RHU
, a provider of on-premise Web conferencing appliances, announced today that purchasers of the company’s TurboMeeting Web conferencing appliances qualify for the new higher limits for accelerated depreciation under the Economic Stimulus Act of 2008. The Economic Stimulus Act of 2008 includes two temporary changes to the tax code that will allow businesses in the United States that purchase new capital equipment to expense a larger portion of it for 2008 only. The Act is intended to stimulate business investment in capital equipment by dramatically increasing the ability to write off the expense immediately through accelerated depreciation. Before the Economic Stimulus Act, businesses could only depreciate capital equipment over its useful life and the Code Sec. 179 limits were substantially lower. Now, businesses can expense the full amount of capital equipment up to the new limits, right away.
“One of the obvious ways for a small business to take maximum advantage of the new provisions under the Economic Stimulus Act of 2008 would be to finance their capital equipment expenditures through a bank or equipment finance company, and then write off the entire purchase in 2008 before they've actually finished paying for it,” said Alexandra North, a CPA whose practice is located on the Central Coast of California. “The new law dramatically increases this advantage by almost doubling the previous amount of deductible Code Sec. 179 expense available for 2008 to $250,000.00. The law also provides qualifying taxpayers an additional 50 percent first year bonus depreciation. So, businesses whose equipment purchases exceed the new higher limits under Code Sec. 179 can then take advantage of additional first year 50% bonus depreciation– even if they’ve financed the purchase.”
“The Economic Stimulus Act will be a boon for firms considering on-premise Web conferencing,” said Larry Dorie, CEO of RHUB. “Since the tax benefit applies to an appliance like TurboMeeting but not to pay-per-minute hosted options, businesses can own a Web conferencing system at a fraction of the cost of hosted solutions and expense their system at the same time. This makes TurboMeeting an unbeatable value.”
TurboMeeting Web conferencing appliances provide state-of-the-art conferencing with enhanced security and performance. TurboMeeting is ideal for sharing and collaborating confidential and proprietary data. Both transmission and access security are provided, as well as a full suite of Web conferencing meeting types. TurboMeeting also offers full “Universal Access” capability, where an attendee with a modern browser can join a meeting with no download required. TurboMeeting extends real-time collaboration well beyond conventional Web conferencing by combining multiple applications:
* Web Conferencing - Web-based interactive meetings
* Remote Support - with remote reboot capability
* Remote Access - remote access to computers at home or office from anywhere, anytime
* Web Seminars – no downloading facilitates a quick (in seconds), easy (URL only), reliable way for large groups of attendees to join meetings
RHUB’s TurboMeeting Web conferencing appliances range in price from $995.00 to $100,000.00, are available in capacities that serve SMBs to global enterprises, and come with a one-year warranty for hardware and software. After the first year, an extended warranty at 20% of the retail price per year is available. Product updates are performed automatically, and add-on licenses are distributed via the Web. For a full listing of TurboMeeting appliances and specifications, visit: http://www.rhubcom.com/front/purchase.htm.
Under the Economic Stimulus Act of 2008, every TurboMeeting appliance qualifies for an immediate tax deduction.
TurboMeeting was recently selected as winner of the 2008 Global Product Excellence in World's Best Software Customer Trust Award by Info Security Products Guide. This customer trust award validates the fact that TurboMeeting is ahead of the curve when it comes to best-in-class products that provide the highest level of security. For a free TurboMeeting demonstration, visit: http://www.turbomeet.com/.
About RHUB Communications
RHUB is a premier provider of on-premise Web conferencing appliances that meet the needs of any organization. The Company’s end users total over 5,000 in a variety of market segments including services, manufacturing, and government. RHUB’s on-premise Web conferencing appliances focus on criteria of the highest importance to users: ease-of-use, affordability, security, control, and reliability. RHUB’s breakthrough View-Only technology enables users of any platform to join meetings by a browser, requiring no download. With a small footprint, and power draw of only 4.5 watts, RHUB’s on-premise Web conferencing appliances are the perfect choice for organizations seeking to improve their environmental credentials. RHUB is privately owned and headquartered in Silicon Valley, California. For more information, visit http://www.rhubcom.com
CONTACT:
Larry Dorie
RHUB Communications
888-633-8155
pr@rhubcom.com
Judy Plummer
Liquid Communications Group
(831) 335-4937
judypr@sbcglobal.net