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Section 179 Depreciation limits for 2014 still pending final approval

Published:  December 8, 2014
Section 179 Depreciation limits for 2014 still pending final approval

The accelerated depreciation that has benefited so many businesses in getting decent deductions by purchasing equipment, furnishings or certain vehicles had been drastically reduced from $500,000 to ouch, $24,000 for 2014. 

Right now Congress is trying to push through an amendment to restore the $500,000 limit for 2014.  We should know in the next week if the bill is approved. Stay tuned, you’ll know as soon as we know.  I suppose the year isn’t over just yet, to crunch in some deduction spending.

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