Sect. 179 Update
The U.S. House of Representatives approved a proposal
that would expand the expired Section 179 tax deduction from the current $25,000 to $500,000 extending the break till the end of 2014. The Senate is expected to vote on the measure this week. If it is approved by Congress, as expected, it could go to the White House early next week for the President's signature (no guarantee that legislation will become law
). To take advantage of the increased limit, new equipment must be placed into service before year end, so the gamble continues....