Gulfport, MS, January 23, 2011 --(PR.com
)-- GoZoneOnline.com announced today that as a direct result of recent tax cut legislation signed into law by President Obama, they are updating their #1 ranked* website.
Specifics of the new legislation can be found in the "Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act." For those with the urge to read up on this, GoZoneOnline.com suggests that you focus on Section 765 of this act. There, one will see where changes have been made to the dates for the Bonus Depreciation Deduction Applicable to the GO Zone.
In short, the GO Zone legislation was enacted late in 2005 as a way to spur growth and rebuilding in the hardest hit, hurricane Katrina areas. One of the most popular portions of the code allows for 50% Bonus Depeciation (tax writeoff) of a rental home that is put in service in the area.
With the new legislation, these benefits are now in place until December 31st, 2011.
According to GoZoneOnline.com, an example of how this works is as follows. Considering a single family home (new construction) in Ocean Springs Mississippi that costs $164,000 and, for the sake of this example, let's also assume the that land only costs $20,000. For this example, the cost of the improvement is $144,000. The resulting 50% bonus depreciation available is then $72,000 just for that single purchase.
They do state that there are some requirements on the property and the purchaser, but there are also thousands who have taken advantage of these benefits since the beginning.
Michael Zari, founder of GoZoneOnline.com, said in a statement that "At GoZoneOnline.com, we are committed to the rebuilding of the Gulf Coast area hit by Katrina." As such, GoZoneOnline.com announced today that they are bringing out new services to their clients and are revamping their site to reflect the changes.
Provided services include:
1) Simplified determination if qualified for GO Zone Benefits;
2) Access to their GO Zone Tax Professional;
3) Free consultation with their GO Zone Strategist (non-sales);
4) Largest supply of high-quality, GO Zone qualified properties;
5) Use of their top lending professionals to help with purchases;
6) Free area, group tours to really learn what is going on and how to profit; and
7) Turn-key service for "out of area" GO Zone buyers (almost 100% of their business).
When asked about the time lines for the new site features, Mr. Zari stated that he expects this to be completed by Monday January 23rd, 2011.
* according to Google Search statistics as of January 20th 2011