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Word Spreads
Q:
I heard that the section 179 maximum was being lowered right now by vote in Congress. Is that true and if so, how much?
Thanks,
A:
The overall limit of $102,000 for the Section 179 deduction isn't being changed.
What is looking like a possible change is the amount of that $102,000 that can be used for vehicles weighing between 6,000 and 14,000 pounds. That would be capped at $25,000 per year if this current bill makes it into law.
The remaining $77,000 would be available for other kinds of business equipment, including vehicles weighing more than 14,000 pounds.
Stay tuned to TaxGuru.net for the latest on this topic.
Kerry Kerstetter
Labels: 179
- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 10/11/2004 04:41:00 PM Send this post:
