Will Congress renew higher limits under Section 179 of the U.S. tax code for 2015? It’s a question that has dogged small-business owners annually as they contemplate using generous temporary deductions expanded to stimulate the economy during recessionary times.Section 179 is a great deal, and most contractors know it. The rule lets small-business owners take an immediate federal tax deduction on the full purchase price of certain new equipment the year it is purchased. Before its implementation, business owners were required to take the deduction piecemeal over several years, factoring in its depreciating value in the process.The section has been
