The U.S. House of Representatives passed legislation to make permanent a provision allowing small businesses to write off up to $500,000 in capital investments. The Small Business Relief Act (H.R. 4457) included extensions of a handful of tax provisions that were allowed to expire at the end of 2013. Specifically for farmers, ranchers and small businesses, H.R. 4457 raises the threshold for Section 179 deductions on business expenses, like investments in new farm equipment, to $500,000, the level it was in 2012 and 2013
Posted on: Mon, 16 Jun 2014 14:22:17 +0000
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