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In addition to the 2.3{0730eed075b45d9e50c00d6cd42dd08773e0164f29a45151808bf89051290974} Obamacare excise tax that starts 1/12013, two of the accelerated tax deductions will disappear. The Section 179 Allowance is reduced from $139,000 to just $25,000 ($0 for equipment >$225,000). The 50{0730eed075b45d9e50c00d6cd42dd08773e0164f29a45151808bf89051290974} Bonus depreciation is completely eliminated. If you wait until 2013, you will defer until later years 65{0730eed075b45d9e50c00d6cd42dd08773e0164f29a45151808bf89051290974} of the…
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Save Money with Section 179 – Deadline December 31st
Most people think the Section 179 deduction is some mysterious or complicated tax code. Essentially, Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if you buy (or lease) a piece of qualifying equipment,…
