Section 179 Expense Deduction

Section 179 Expense Deduction

An election to treat the cost of certain qualified property as a currently deductible expense rather than as a capital expenditure. This is also referred to as expensing. See Form 4562 for the current dollar limits on the deduction.
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Among the federal income tax changes explained in the Special Report are: -- A new private mortgage insurance (PMI) deduction for homeowners -- Higher personal and dependency exemptions -- Higher income limits for deductible IRAs and Roth IRAs -- Increased Section 179 expense deduction for business owners -- Bigger health care deductions -- Increased contribution limits for 401(k) plans --Tax relief for foreclosures
edu): an Excel spreadsheet developed by the authors for use in determining the optimal section 179 expense deduction.
A limit on the Section 179 expense deduction is increased to $100,000 for qualified property.
The 2008 stimulus bill increases the Section 179 expense deduction from $128,000 to $250,000 and offers a 50 percent bonus depreciation.