Good Congressional News Regarding Section 179 Depreciation

Let’s hope the momentum will continue – regarding House action last week to permanently extend the provision allowing certain businesses to write off as much as $500,000 in new equipment purchases.

The limit has been $500,000 since 2010, though without Congressional action would fall back to $25,000 for 2014.

There’s still a ways to go, however, given the need for Senate assent to such a permanent extension, and agreement from Obama who has thus far opposed such a move.