What is the deduction limit for Section 179 Deductions?
After the ‘Economic Stimulus Act of 2008’ was passed, the new current deduction limit is $250,000 and the total amount of equipment purchased cannot exceed $800,000. These limits were set to return to “normal” for 2009 and 2010, but were extended until 12/31/2010 under the Recovery Act of 2009 and the HIRE Act of 2010 – so you may wish to take advantage of Section 179 now before the enhanced tax deductions expire.
After the ‘Economic Stimulus Act of 2008’ was passed, the new deduction limit became $250,000 and the total amount of equipment purchased could not exceed $800,000. These limits were set to return to “normal”, but were extended until 12/31/2010 under the Recovery Act of 2009 and the HIRE Act of 2010 – so you may wish to take advantage of Section 179 now before the enhanced tax deductions expire.
After the most recent Stimulus Acts were passed, the new deduction limits became $500,000 and the total amount of equipment purchased could not exceed $2,000,000. These limits are set to reduce and return to “normal” in future years – so you may wish to take advantage of Section 179 now before the enhanced tax deductions expire.
After the most recent stimulus acts were passed, the new deduction limits became $139,000 and the total amount of equipment purchased can not exceed $560,000. These limits are set to reduce and return to “normal” in future years – so you may wish to take advantage of Section 179 now before the enhanced tax deductions expire.
