Tax Tip: Small Business Expensing Enhanced

 In Blog, Educational Issues, Tax Tips

Small Business expensing was enhanced early this calendar year when The American Taxpayer Relief Act of 2012 increased the amount available as a first-year deduction for the purchase of new or used business equipment to $500,000.  This new limit applies to both 2013 and retroactively to 2012.  The investment limit of total purchases is $2,000,000.  The new law also extends 50% bonus depreciation through 2013.

For more details,  see our January 22, 2013 post:  Section 179 Changes: Deductions for Equipment and Software

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