Bucket Trucks, Digger Derricks, & More – I-80 Equipment

Atlanta, GA (PRWEB) September 28, 2010                                                          

In what has come as a welcome surprise to many business owners, H.R. 5279 (aka The Small Business Jobs and Credit Act of 2010) which was signed into law yesterday contains several substantial changes to Section 179, the ever-popular business equipment tax deduction.

“Section 179 was given a nice boost in the past few years, but those boosts were set to expire at the end of 2010” reported Chris Fletcher, Section179.Org’s spokesperson. “But now, not only were the prior higher limits extended for 2010 and beyond, they were made even bigger”.

Indeed, an advanced reading of the bill suggests the following Section 179 changes:

• An increase of the total amount available for deduction to $500,000 (up from $250,000)
• An increase to the total amount of equipment purchased to $2 million (up from $800,000).
• The above numbers are to be in effect for 2010 and 2011.
• In addition, the bill also extended the “50% bonus depreciation” to tax year 2010 (it was rescinded earlier this year, but has been restored.)

Continue reading “Section 179 Changes in the Small Business Jobs and Credit Act of 2010 mean HUGE savings!” »