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Article Date:
March 2015


Word Count:
698

 

 

Don’t Overlook the New Law That Allows Section 179 and Bonus Depreciation Retroactively to 2014


Estimated tax savings. $23,035! Are you kidding me? No, we’re not kiddingif you were as lucky as Harry Spencer, described below.

 

Sometimes it seems that lawmakers have it out for small businesses. Whether they’re requiring detailed record-keeping or making you pay high tax rates, it sometimes seems small businesses never get a break.

 

Well, occasionally things do go your way, and they did this past December when lawmakers passed a retroactive law they called the Tax Increase Prevention Act of 2014.1

 

Among many other extensions of prior laws, this law retroactively reinstated ... Log in to view full article.

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