Section 179 increase - who's spending and on what?

[Samir Patel]

Sounds like the section 179 deduction will increase to $500,000. Who is making some last minute purchases and on what? Too nad the new cams don't release til next year. ;(

 

[Terry VerHaar]

Is that for tax year 2015?

 

[Samir Patel]

Is that for tax year 2015?

Looks like there is a bill in congress which may raise it to $500,000 for 2015 from $25,000. Too bad I don't have money sitting in my account to just buy a weapon. ;(

(updated today)
http://www.section179.org/

and I saw forbes write about it yesterday

 

[Terry VerHaar]

Cool. Thanks for the info.

 

[Wayne Morellini]

Over here they did something silly, upto first $20k tax write off for each and every item don't matter how many items. They still rolled that prime minister. Now, where can one find a $20k stapler, maybe one of those fancy chrome ones your relative is just going to make. Who knows.

 

[Samir Patel]

Looks like the bill was passed. Get your last minute 2015 business spending done peoples!

 

[David Peterson]

http://www.forbes.com/sites/ashleae...000-tax-break-thats-disappearing-by-year-end/





http://www.investopedia.com/terms/s/section-179.asp