WASHINGTON, Feb. 13, 2015 – The House voted to make permanent the expired Section 179 expensing allowance, but the popular tax break is likely headed to another temporary extension until Congress can ...

A bipartisan deal between leaders of the House and Senate tax-writing committees would raise limits on the Section 179 expensing provision that is popular with farmers. The deal also would restore a ...

Small businesses would be able to expense up to $500,000 in purchases of new equipment and computer software under legislation passed by the House on Friday. The legislation would make this $500,000 ...

Is your business expecting a very profitable year, knowing you will have a painful income tax debt to pay next April? Do you have plans to purchase some equipment within the next six months? If so, ...

Bonus depreciation deductions are gone for good, which means small-business owners are generally required to write off equipment costs under the Modified Accelerated Cost Recovery System, or MACRS.

SIGNIFICANT SAVINGS: Under the expansion of Section 179, commercial HVAC contractors operating at a 35 percent tax bracket may immediately save approximately $70,000 in taxes on a $200,000 HVACR ...

Section 179 expensing can be a very powerful tax-planning tool for small- and medium-sized businesses acquiring capital assets. While it doesn't change the amount of depreciation you can take over the ...

Long ago, in 1958 Congress passed one of its many laws making “technical corrections” to the Internal Revenue Code. Mostly, these are truly technical corrections but there are times when substantive ...