Business Tax Alert – Equipment Purchases in 2014

| Alerding Alerts

There has been a big change in the amount of equipment and furniture your business may write off immediately (instead of capitalizing and depreciating it) in 2014 for federal tax purposes.  This is called the Section 179 deduction. As it stands right now, for tax years beginning in 2014, your business can only expense up to $25,000 (Yes, that is twenty-five thousand dollars) of equipment purchases.  The phase out of this Section 179 deduction begins when your equipment purchases exceed $200,000.  Read more [...]