[IMGCAP(1)]Enhanced Section 179 expensing allowances, along with dozens of other “temporary” tax provisions, expired at the end of last year.
For tax years beginning in 2014, the expensing limit has dropped from the generous $500,000 to $25,000. That’s where it will stay, unless Congress acts retroactively to extend the more generous allowance. While both houses of Congress currently have extenders legislation up for consideration, election year politics give no reason for optimism.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access