“The America's Small Business Tax Relief Act of 2014 (H.R. 4457) is a bill that would amend section 179 of the Internal Revenue Code, which mostly affects small- to medium-sized businesses, to retroactively and permanently extend from January 1, 2014, increased the cap on the amount of investment that can be immediately deducted from taxable income.[1] The bill would return the tax code to its 2013 status and make the change permanent.” Content from Wikipedia online encyclopedia.
“After months of turmoil resulting from a shift in industry preferences, a recent attempt to extend the Section 179 tax deduction has made another step toward success. This tax deduction allows taxpayers to deduct the cost of some types of business-related purchases, as compared to capitalizing and depreciating them…At the beginning of 2014, the law was changed so that businesses could only deduct about $25,000 per year. This bill, should it fully pass through the lawmaking bodies, is expected to restore applicable expenses to $500,000 annually on purchases or leases of qualified equipment of up to $2 million.” Marlin Marketing, "Section 179 tax code change passes House of Representatives," June 17, 2014 at 2:35pm. Read the entire article here.
Most new and used equipment, as well as some software, qualify for the Section 179 Deduction. Calculate your savings by using their tax deduction calculator here.
Marlin Equipment Finance is a nationwide provider of equipment financing solutions supporting equipment suppliers and manufacturers in the security, food services, healthcare, information technology, office technology and telecommunications sectors.
