White House Proposes Increasing Section 179 Deduction in 2013 to $250,000
- By: Paul Neiffer
- July 11th, 2012
- 2 Comments
The White House just announced several initiatives today including increasing the Section 179 deduction for 2013 from the current $25,000 amount to $250,000. This will require Congress to update the law to reflect this amount, so the change of this happening is not certain. However, the mood of Congress and the President is to help small business and the Section 179 deduction is completely focused on small business.
We will keep you posted on this initiative. Here is the White House Fact Sheet.
Paul Neiffer is a certified public accountant and business advisor specializing in income taxation, accounting services, and succession planning for farmers and agribusiness processors. Paul is a partner with CliftonLarsonAllen in Yakima, Washington, as well as a regular speaker at national conferences and contributor at agweb.com. Raised on a farm in central Washington, he has been immersed in the ag industry his entire life, including the last 30 years professionally. In fact, Paul drives combine each summer for his cousins and that is what he considers a vacation. Leave a comment for Paul. If you would like to leave a comment for Paul, follow the link above, however, please make sure to include your email address so that he can reply to your comment (your email address will not automatically show up).
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