December 22, 2015
The Protecting Americans from Tax Hikes Act of 2015 has passed!
This will affect Section 179 and Bonus Depreciation in the following ways:
Section 179: Permanently extends the business expense limit to $500,000.
The prevoius limit was $25,000.
Bonus Depreciation: Has been extended through 2019
2015: 50% Bonus Depreciation
2016: 50% Bonus Depreciation
2017: 50% Bonus Depreciation
2018: 40% Bonus Depreciation
2019: 30% Bonus Depreciation
This is great news if you've been thinking about purchasing new or used equipment.
Act quickly to take advantage of these savings!
You don't have to pay for the equipment by year-end; it's OK to buy it on credit and still take the full deduction.