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Section 179 Legislation

As we last reported in December 2013 and January 2014, the American Taxpayer Relief Act, which increased the maximum amount and phase-out threshold in 2012 and 2013 for small businesses expensing under Section 179 to $500,000, expired 12/31/13. The expensing limit has now reverted back to $25,000.

Congressmen Pat Tiberi, R-OH, and U.S. Congressman Ron Kind, D-WI, have now introduced, H.R. 4457, to permanently expand small business expensing to $500,000. And unlike legislation in the past, if the bill is enacted it would make the accelerated expensing permanent.

H.R. 4457 is expected to be on the floor by sometime in mid-June. Every MDNA Member should take time now to write to your representative in Washington in support of this key legislation.

The fastest and easiest way to contact your representative is by going to house.gov and following the link to your elected officials. Each member has an e-mail link. The Link below will take you to a sample letter that you may use by copying it into the message space for the person you are trying to contact. However, this is just a sample, it is more important that your voice be heard than the specific language that you use.

Get sample letter and read more here! more


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