Definitive resource for section 179 and bonus depreciation in plain language - make smart business decisions in 2015 about buying, financing or leasing qualifying. Instantly discover how much your small business can save in taxes utilizing the section 179 deduction calculator for equipment, vehicle, and software.. On december 16, 2014, congress approved legislation extending the $500,000 section 179 limit and the $2 million overall investment limit for tax year 2014.. Estates and trusts cannot elect the section 179 deduction. this chapter explains what property does and does not qualify for the section 179 deduction, what. The section 179 deduction 2014 update is currently bad news. but there is a potential glimmer of light moving through the house right now.. By: david marrison, associate professor and extension educator. over the past decade, congress has repeatedly allowed faster depreciation of capital assets to.
By: david marrison, associate professor extension educator. decade, congress repeatedly allowed faster depreciation capital assets . Section 179 deduction business equipment depreciated life expensed immediately internal revenue code section 179.. () general. sections 179() (1) (2) limit aggregate cost section 179 property taxpayer elect expense section 179 . Section 179 united states internal revenue code (26 ... § 179), taxpayer elect deduct cost types property income. Section 179 deductions purchase equipment extended maximum $500,000 december 31, 2014..